US vows collective response to China’s rare earth export controls
US Treasury Secretary Scott Bessent emphasized Washington’s intent to build a united response to China’s export controls on rare earths, including discussions with India and other allies. He described the issue as a global problem, not just a US-China dispute. Bessent also criticized China for fueling the Russian war effort by buying large amounts of Russian and Iranian energy. Despite tensions, he expressed optimism for dialogue with China and noted ongoing communication. Bessent also warned that the US could retaliate with countermeasures against China’s export restrictions, referencing previous actions taken earlier this year. President Trump confirmed that his meeting with Chinese President Xi Jinping would still take place in South Korea.
