US-China Trade War Escalation
A sudden escalation in the U.S.-China trade war threatens to undo months of progress between the world's two largest economies.
China announced new global export controls on its rare earth minerals and products, citing the need to "improve its export control system, better safeguard world peace and regional stability, and fulfill international non-proliferation obligations."
China's measures were taken "in accordance with laws and regulations
U.S. Trade Representative Jamieson Greer responded, accusing China of having "wildly overstepped the bounds of what's acceptable," and stating that China's "power grab won't be tolerated.
- China warns US against additional 100% tariffs
- Threatens to take 'resolute measures' against US actions
Author's summary: Trade war escalates between US and China.