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Scott Bessent: “Chinese immediately came to the table and they rolled the…”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

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Conversation with Scott Bessent, US Secretary of the Treasury | WEF Annual Meeting 2026

Published | Video Starts at 13:37

President threatened 100% tariffs on China if they did this. My Chinese counterpart, who's been a very good interlocutor, had gone quiet for a couple of days. Chinese immediately came to the table and they rolled the export controls out a year. And President Trump insisted that I negotiate on behalf of the whole world. So in terms of the US Leading, this is what US Leadership looks like. (13:37–13:45)

CLAIM

Asserts that China postponed rare earth export controls by a year after U.S. negotiations.

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