Bessent met with He Lifeng. They talked about AI, trade, and rare earths—everything to pave the way for the Trump–Xi summit. The old script: hint ahead of time, blame if things fall apart, and brag if they succeed. If the rare earths get loosened, semiconductors and defense industries can breathe a little; but don’t expect a single meeting to be the grand finale—don’t rush the market into pricing it in. The real signal depends on whether there’s a joint statement and concrete proof on tariffs after the meeting; right now it’s all prelude.

$BTC #China-US relations