Overview

• Beijing’s expanded licensing regime would require approval for exports of products containing even 0.1% Chinese‑sourced rare earths and bar sales to foreign military end users, with phases reported to begin in November and December.
• U.S. officials condemned the move and warned of a coordinated allied response, while noting neither the controls nor President Donald Trump’s threatened 100% tariffs have been implemented.
• Washington is preparing options that include new export controls, strategic stockpiles, price floors and potential equity stakes in critical‑minerals and other strategic companies.
• China defended the measures as necessary for national security, accused the U.S. of stoking panic and said it remains open to talks to resolve the dispute.
• Staff‑level engagement continues ahead of an expected late‑October meeting in South Korea, and G7 counterparts discussed the issue on the sidelines of the IMF–World Bank gatherings.