Bloomberg first reported Bessent's travel plans.
Rare earths are a group of metals used to make magnets that turn power into motion for electric vehicles, cell phones, missile systems, and other electronics. There are no viable substitutes, and demand is widely expected to grow.
A number of other U.S. officials are traveling to Europe this week, in part to discuss the Ukraine war with Kyiv and other European allies. They include Secretary of State Marco Rubio, Vice President JD Vance, Defense Secretary Pete Hegseth and Keith Kellogg, the U.S. envoy for the Ukraine war.
Reuters reported this week that the Trump administration plans to push European allies to buy more American weapons for Ukraine ahead of potential peace talks with Moscow.