China blames US for global panic over rare earths controls
Summary
China accused the US of stirring panic over rare earth export controls and rejected calls to roll back the measures, amid escalating trade tensions ahead of a planned summit between Presidents Trump and Xi.
Key Points
- China accused the US of distorting its rare earth export control measures, denying intentions to cause global supply disruptions.
- Beijing insists export license applications for civilian use will be approved and that the controls align with international practices.
- US officials criticized China’s new measures as a supply-chain power grab and openly discussed extending tariff truce deadlines.
- Tensions escalated with personal accusations between US Treasury Secretary Scott Bessent and China's chief trade negotiator Li Chenggang, yet high-level talks between Trump and Xi are expected to continue.
