"When you are facing a nonmarket economy like China, then you have to exercise industrial policy, Bessent said. The Treasury Secretary explained that China has put rare earth mineral companies out of business by massively dropping their own prices. We're going to set price floors and the forward buying to make sure that this doesn't happen again, and we're going to do it across a range of industries, he said."
"President Donald Trump responded by threatening the country with 100% tariffs. Trump called it an extraordinarily aggressive position and a moral disgrace. Don't worry about China, it will all be fine! Trump wrote on Truth Social after his threat. Highly respected President Xi just had a bad moment. He doesn't want depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!"
The U.S. Treasury will introduce price floors, forward buying, and potential equity stakes in private firms across seven strategic markets to counter market manipulation by nonmarket economies such as China. China previously depressed rare-earth prices, driving competitors out of business, and recently imposed export licensing for rare earth minerals to foreign militaries. The U.S. response includes a threatened 100% tariff, rhetoric labeling the move aggressive and a moral disgrace, and assurances of wanting to help China while seeking supply self-sufficiency with allies. The measures aim to bolster domestic and allied supply chains and prevent future market distortions across multiple industries.
Read at www.mediaite.com
Unable to calculate read time
Collection
[
|
...
]