By tredu.com • 6/2/2025
Tredu
In response to mounting tensions, US President Donald Trump and Chinese President Xi Jinping are expected to speak soon about an escalating minerals trade dispute, according to US Treasury Secretary Scott Bessent, as reported by Reuters.
On Friday, President Trump accused China of failing to honor an agreement to reduce tariffs and continue shipments of critical raw materials vital for US industries. The materials in question are used across strategic sectors like defense, technology, and clean energy.
“We’re going to have some tariffing. Maybe not as exciting as was announced on April the 2nd, but we’re still going to get it,” said Scott Bessent.
The minerals dispute is especially sensitive because it affects global supply chains that depend on stable access to rare earths and other industrial inputs. Disruptions could ripple across manufacturing, technology, and national defense operations.
Learn more about strategic minerals and their importance.
Though the timing of the Trump-Xi call has not been officially confirmed, investors and policymakers are watching closely. The call’s outcome could influence global trade policies, currency markets, and international relations.
Track more developments in our US-China Relations section.
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