rare earth

Among the highlights: Beijing delayed implementation for a year of expanded restrictions on rare earth exports that would have roiled global supply chains.

That builds on an existing partnership with the lab, but Ramaco said it would also work with other Energy Department laboratories on rare earths.

Among them, Washington agreed to cut some tariffs on Chinese goods, and Beijing committed to keep supplies of critical rare earths flowing.

Beijing backed off on its latest harsh export controls on rare earth minerals vital to making products from electric vehicles to jet fighters, but an opaque licensing system continues to frustrate American manufacturers.

“Yes, we are going to be suspending that for a year in return for the suspension on the rare earth licensing regime,” Bessent said during an interview on Fox Business Network on Thursday.