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At a news conference, Treasury secretary Scott Bessent and trade representative Jamieson Greer warned Beijing that sweeping export controls on rare earths and critical minerals would push the world toward decoupling. Rules, requiring licenses for products with small amounts and due in December, drew condemnation; President Donald Trump threatened an additional 100% tariff on imports from China by November 1. Greer called the move economic coercion affecting AI systems, cars and smartphones. The officials criticized Chinese negotiator Li Chenggang, yet expect a Trump–Xi meeting at APEC on October 29 and remain open to de-escalation as tariff deadlines near mid-November.

Prepared by Rachel Morgan and reviewed by editorial team.