Scott Bessent on China’s Rare-Earth Strategy and Trade War Fallout
Scott Bessent has labeled China's threat to restrict rare-earth exports as a strategic miscalculation. In a Financial Times interview, he argued that Beijing's MOVE disrupted a delicate balance, forcing the U.S. and allies to accelerate efforts to secure alternative mineral supplies. "Showing their hand on rare earths was a blunder," Bessent noted. "Washington now treats supply chain resilience as an urgent priority."
The investor, who owns North Dakota soybean farmland, also commented on agricultural trade tensions. "I've felt this pain directly," he told ABC News, referencing China's effective blockade of U.S. soybean imports. His disclosed holdings—valued between $5-$25 million—illustrate how trade wars Ripple through asset classes beyond traditional markets.
