Recent statements from Bessent, JD Vance, and Trump suggest a de-escalation in US-China trade tensions, indicating that 100% tariffs may not materialize and the relationship is "good." This could positively impact companies reliant on US-China trade or those involved in rare earth supply chains, as the risk of severe tariffs appears to be diminishing. Investors should monitor developments regarding China's willingness to be a reliable rare earth supplier.