Treasury Secretary Scott Bessent suggested the U.S. might extend a pause on import duties on Chinese goods beyond three months if Beijing cancels plans for strict new export controls on rare-earth elements. “Is it possible that we could go to a longer roll in return? Perhaps. But all that’s going to be negotiated in the coming weeks,” Bessent said at a Washington press conference. The two countries have maintained a series of 90-day truces since earlier this year, with the next due in November. Tensions have risen recently after Washington expanded tech restrictions and proposed levies on Chinese ships, prompting China to respond with parallel measures. Bessent also stated the Trump administration plans to tighten control over strategic sectors by taking more equity stakes in key companies to counter China’s economic policies and export restrictions.
