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China defended its Oct. 9 rare earth export controls as lawful and limited, saying approvals will be granted for compliant applications and military-linked items denied. The rules extend to related IP and technology and require licenses for products containing over 0.1% domestically sourced rare earths or made with Chinese methods. The European Chamber cites a growing licensing backlog. In response, the U.S. announced 100% tariffs and new software export curbs from Nov. 1, triggering a $2 trillion market sell-off. Beijing also moved to charge U.S. ships, mirroring U.S. port fees.

Prepared by Christopher Adams and reviewed by editorial team.