Bessent: US-China Truce on Minerals, Tariffs May Extend This Year

Bessent stated that the current U.S.-China truce on critical minerals and tariff rates could be extended through follow-up meetings later this year, signaling ongoing diplomatic efforts to stabilize trade relations. This development supports improved risk appetite and may ease input cost pressures for manufacturers reliant on Chinese-sourced critical minerals, reducing near-term inflation repricing risks. Chinese equities and export-oriented industrial sectors are particularly sensitive to tariff stability, while U.S. tech and green energy supply chains stand to benefit from uninterrupted mineral flows. Traders will watch the next scheduled U.S.-China trade working group meeting in September, where progress on mineral export restrictions and reciprocal tariff rollbacks may be discussed.

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