US Threatens New Tariffs if China Resumes Rare Earth Export Restrictions: Treasury Secretary Warns

Nov 03, 2025 02:36 am CST

The US Treasury Secretary Scott Bessent has warned that the Trump administration is prepared to reimpose tariffs if China blocks rare earth exports again, despite Beijing's recent one-year suspension of restrictions. Following talks between Trump and Xi in South Korea, Washington agreed to reduce tariffs by 10%, while China promised to address fentanyl trafficking into the US. Bessent emphasized the need to reduce dependency on China's rare earth processing monopoly.