US confident magnets will flow after rare earth deal with China, Treasury secretary says
ReutersJun 27, 2025 11:50 AM
WASHINGTON, June 27 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Friday he was confident magnets would flow from China after Washington reached a rare earth deal with Beijing.
"I am confident now that we as agreed, the magnets will flow," Bessent said in an interview with Fox Business Network, adding that the U.S. had put in countermeasures after China slowed the delivery of critical minerals.
"So what we're seeing here is a de-escalation under President Trump's leadership."
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