Washington, 16 October (H.S.): The United States is mobilizing an international coalition, including India and key European and Asian allies, to formulate a fulsome group response to China’s recent move to tighten export controls on rare earth minerals .
US Treasury Secretary Scott Bessent has framed the issue as a China versus the world problem, not a simple bilateral dispute, and confirmed that Washington is in discussions with its partners to address the matter.
In a series of statements, Secretary Bessent condemned Beijing’s actions as highly provocative and a threat to global supply chains, while also indicating a preference for de-escalation. He announced that the US would be coordinating with the European Union, Australia, Canada, India, and other Asian democracies to counter what US Trade Representative Jamieson Greer termed a global supply-chain power grab.
Despite the strong rhetoric, Bessent expressed optimism that the situation could be de-escalated, noting that substantial communication with Chinese officials has occurred and more is expected.The diplomatic push comes as trade tensions between the world’s two largest economies have reignited. Last week, China announced it would curb exports of rare earth elements, which are critical for manufacturing everything from electric vehicles to advanced military hardware.
In response, US President Donald Trump threatened to impose 100% tariffs on Chinese goods by November 1 and has declared that the two nations are now in a sustained trade war.
Amid the escalating conflict, a temporary trade truce is set to expire on November 10, and a crucial meeting between President Trump and Chinese President Xi Jinping is scheduled to take place in South Korea later this month.
While President Trump has hinted at canceling the meeting, Secretary Bessent confirmed it is still expected to proceed.Adding another layer to the tensions, Bessent criticized China for its significant energy purchases from Russia, stating that these transactions are fueling the Russian war machine . According to recent data, China is the largest single buyer of Russian fossil fuels, accounting for over 40% of its export revenues in recent months.
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Hindusthan Samachar / Jun Sarkar
