The US-China standoff deepens

Reuters reports on Beijing’s expanded rare earth export restrictions, mirroring US chip curbs, that have reignited trade tensions with Washington ahead of a planned Trump-Xi summit in South Korea. Scott Bessent accuses China of wanting to “pull everybody else down.” The rare earth restrictions could disrupt the US defence industry. The rest of the world braces to take more heat from the US-China confrontation.

China expands rare earths restrictions, targets defense and chips user – Reuters, October 10, 2025
Beijing expanded export restrictions on five additional rare earths and related equipment, tightening control over global supply chains ahead of a Trump-Xi summit.
HF sponsored access Bessent says China wants to ‘pull everybody else down’ – Demetri Sevastopulo and James Politi, Financial Times, October 14, 2025
US Treasury secretary Scott Bessent accused China of trying to hurt the world’s economy after China accounted export controls on rare earths and critical minerals.
How China’s rare earth restrictions could disrupt the US defense industry and reignite a trade war – Spencer Kimball, CNBC, October 14, 2025
China’s rare earth export curbs target foreign militaries, giving Xi leverage over Trump before trade talks. The move threatens US defense, semiconductor, and EV industries reliant on Chinese refining.
Trump’s trade war with China catches the world in its crossfire – Patricia Cohen, The New York Times, October 14, 2025
New US tariffs and China’s rare earth curbs are shaking supply chains, with both powers pressuring nations like Mexico, India, and the EU to take sides. Retaliatory measures, steel tariffs, and export restrictions have triggered a wave of protectionism worldwide.