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Treasury Secretary Bessent says a stock market decline won't deter the U.S. from taking strong action against China

  • On October 9, China announced expanded export controls on five rare‑earth metals, requiring special approvals for rare‑earth magnets and certain semiconductor materials containing at least 0.1, surprising U.S. officials.
  • Beijing framed the move as part of a multiyear effort to mirror U.S. export controls on semiconductors and boost bargaining power, calibrating rules to press for reciprocal relaxation and respond to President Donald Trump's tariffs.
  • The regulations specify that China controls roughly 70 of the 17 rare earth elements and denies export licenses to firms linked to foreign militaries, risking delays in weapons for Ukraine.
  • President Donald Trump threatened a 100% tariff on Chinese imports starting Nov. 1, while Scott Bessent, U.S. Treasury Secretary, said tensions had 'substantially de-escalated' and a meeting with Xi remains expected.
  • The restrictions are pushing nations to explore alternatives in Central Asia, as Kazakhstan announced discoveries of more than 20 million metric tons and Pakistan signed a $500 million memorandum with US Strategic Metals.
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Radio Free Europe/ RadioLiberty broke the news in Czechia on Tuesday, October 14, 2025.
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