Overview

• China widened export controls on rare earths and related technologies through Ministry of Commerce notices, with key measures starting November 8 and December 1 and new licensing that targets military and dual‑use applications.
• Treasury Secretary Scott Bessent reported substantial weekend communications with Beijing and said staff‑level contacts will continue in Washington during IMF–World Bank meetings, while emphasizing coordination with Europe, India and Asian democracies.
• The Pentagon, through the Defense Logistics Agency, is preparing purchases of up to $1 billion in critical minerals to build a strategic stockpile and cut reliance on Chinese processing, complementing earlier Defense Production Act investments.
• Financial markets rebounded Monday after Friday’s sell‑off on tariff threats, and rare‑earth and mining shares jumped sharply, with names such as MP Materials, Energy Fuels and USA Rare Earth posting double‑digit gains.
• Beijing defended the controls as legitimate and warned it would take resolute measures if Washington proceeds with the threatened 100% tariffs, even as U.S. officials press for de‑escalation and a leaders’ meeting later this month.