Are the US and China getting back together? Goldman is skeptical.
Latest US-China developments: Last Friday, US Treasury Secretary ScottBessent had a “constructive”video call with Vice Premier He Lifeng and President Trump indicated that the meeting with President Xi would go ahead in South Korea later this month. Despite these positive developments, we think risks linger.
In our latest Q&A piece, we explain that China’s leverage over rare earths has looked quite powerful for some time, and China is unlikely to back off from the proposed rare-earth controls.