Washington– The United States expects strong backing from its allies, including India, in countering China’s newly expanded export controls on rare earth elements, Treasury Secretary Scott Bessent said on Tuesday.
In an interview with Fox News, Bessent described Beijing’s move as “China versus the world” and voiced confidence that Washington’s partners would rally behind its efforts.
“We have already been in touch with our allies. We will be meeting with them this week, and I expect substantial global support — from the Europeans, from the Indians, from the democracies in Asia,” Bessent said. “This is a global problem, and I think our global allies will follow us on this.”
He emphasized that the U.S. will not allow China’s export restrictions and monitoring measures to continue unchecked, noting that “everything is on the table” as potential retaliation.
“Back in early summer, we were forced to put 12 countermeasures on China that targeted natural resources used in making plastics for jet engines and parts. I believe they had to ground a large part of their civilian fleet,” he said. “We have plenty of straight brute-force countermeasures that we can pull.”
President Donald Trump last week threatened to impose 100 percent tariffs on Chinese products beginning November 1 and to introduce export controls on “any critical software.” He also suggested he might cancel an upcoming meeting with Chinese President Xi Jinping, accusing Beijing of “hostile” trade behavior after China expanded its rare earth export restrictions.
However, Trump later downplayed tensions, saying there was “no need to worry about China” and that Xi had simply “had a bad moment.”
Beijing last week tightened its rare earth export rules and imposed new fees on U.S. vessels after Washington broadened its own export controls.
Bessent confirmed that Trump and Xi are still scheduled to meet in South Korea. “President Trump said that the tariffs would not go into effect until November 1. He will be meeting with Party Chair Xi in Korea. I believe that the meeting will still be on. There has been substantial communication over the weekend,” he said.
Trade negotiations between the two nations have been ongoing since April, with a temporary truce set to expire on November 10. (Source: IANS)
