Overview

• China brought into force tighter export controls on rare earths and on technologies for assembly, maintenance and upgrading of production lines, citing national security.
• President Trump said there is “no reason” to meet Xi at the late‑October APEC summit in South Korea, casting doubt on the planned encounter.
• He warned the U.S. is considering a “massive” increase in tariffs on Chinese imports along with other potential countermeasures.
• Investors showed fresh caution, with U.S. Treasury futures rising and Germany's DAX falling into the close.
• The flare‑up follows a brief pause after both countries levied tariffs above 100% in April, raising supply‑chain risks given China's dominance in rare‑earth processing.