Sec. Bessent on China: ‘This Rare Earth Export Control Is a Sign of Decoupling’

EXCERPT:

BESSENT: “We have lots of levers that we can pull for products that they need that could be equally damaging. We don't want to damage their economy. We don't believe that they want to damage ours, but they are a command-and-control economy, and they are going to neither command nor control us. And we're going to assert sovereignty so are the Western allies. And part of this investment boom that we're seeing is President Trump wanted to reshore, and part of the reshoring is strategic. So, we don't want to decouple with China. I don't believe they want to decouple. But this rare earth export control is a sign of decoupling.”