'Chinese economy will be hurt the most': Scott Bessent blasts China's actions on rare earths

U.S. Treasury Secretary Scott Bessent slammed Beijing’s rare earth export curbs today as “China versus the world,” vowing that Washington and its allies would “neither be commanded nor controlled”. “This should be a clear sign to our allies that we must work together, and work together we will,” Bessent told reporters at a press conference. His comments came as global economic leaders gather in Washington this week for the International Monetary Fund and World Bank’s fall meetings. “We do not want to decouple. We should work together to de-risk and diversify our supply chains away from China as quickly as possible,” Bessent urged.

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