Overview
- China tightened controls last week on technologies linked to rare earths, extending restrictions that began with an export licensing system in April.
- EU trade chief Maros Sefcovic said some European companies have already suspended output and that the bloc will consult G7 partners on a coordinated response.
- U.S. Treasury Secretary Scott Bessent and trade official Jamieson Greer labeled the measures coercive and pressed allies to act together as global officials gather in Washington for IMF and World Bank meetings.
- President Trump threatened additional tariffs and questioned a planned APEC meeting with Xi, though Bessent said the encounter is still expected and emphasized a preference for negotiation.
- Beijing defends the rules as consistent with international practice, while European firms report intrusive documentation demands and business groups cite low rates of export-license approvals.