What is the U.S. Treasury Secretary's position on extending the critical minerals trade truce with China set to expire in November 2025?

U.S. Treasury Secretary Scott Bessent stated that the Trump administration is 'not in a rush' to extend the tariff and critical minerals trade truce with China ending in November 2025, noting there is time to renew it during meetings later this year and adding that 'things are stable.'

According to Bessent, how has China performed on its commitments regarding critical minerals, and what does the U.S. plan to do next?

Bessent assessed that China's fulfillment on its side of the critical minerals agreement has been 'satisfactory, but not excellent,' and said the U.S. is 'seeing them again' — indicating continued engagement and follow-up discussions, including an upcoming meeting between Bessent and Chinese Vice Premier He Lifeng ahead of President Xi Jinping’s expected September visit to Washington.

US Not in Hurry to Extend China Trade Truce on Critical Minerals, Bessent Says

May 19, 2026

U.S. Treasury Secretary Scott Bessent indicated the administration will not rush to extend a tariff truce with China ending in November, citing issues with critical minerals compliance. Preparations continue for upcoming meetings between U.S. and Chinese leaders.

reuters

2026-05-19

US Not in Hurry to Extend China Trade Truce on Critical Minerals, Bessent Says

US Not in Hurry to Extend China Trade Truce on Critical Minerals, Bessent Says

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