Overview

• U.S. Trade Representative Jamieson Greer labeled Beijing’s expanded rare‑earth export regime a global supply‑chain power grab, with Treasury Secretary Scott Bessent vowing the U.S. and partners would neither be commanded nor controlled.
• Officials said China has not yet implemented the curbs and could still withdraw them, while the U.S. has not enforced its threatened 100% tariff increase and could extend a tariff pause if Beijing delays the rules.
• Bessent announced price floors and forward buying across industries to blunt Chinese market dominance, with potential additional equity stakes alongside earlier Pentagon support for MP Materials.
• Bessent identified Chinese negotiator Li Chenggang as the official who warned in August that China would “unleash chaos,” casting the episode as evidence the export controls were long planned.
• Daily contacts continue to arrange a Trump–Xi meeting at APEC in South Korea, as the U.S. rallies allies for a coordinated response, weighs further export controls, explores tariffs tied to Russian oil purchases with European backing, and plans to share evidence of Chinese components in Russian drones.