The China’s decision to impose restrictions on rare earth export It was a “mistake” and revealed his ability to use them as a coercive tool, said the secretary of the United States Treasury, Scott Bessantin an interview published this Saturday.
In an interview with the newspaper Financial TimesBessent stated: “China warned the entire world of the danger. They have made a real mistake“.
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“It’s one thing to put the gun on the table and quite another to shoot in the air,” the official said.
Likewise, Bessent said that China will not be able to take the same measure again: “We have countermeasures.”
“I think Chinese leaders were slightly alarmed by the global reaction to their export restrictions,” he said.
China announces controls on rare earths, but then suspends them
It should be noted that China announced its new controls in October on those materials considered fundamental for industries such as automotive, defense or electronics of consumption.
These controls had shook the markets and hindered supply chains in this strategic sectora key source of international influence for Beijing.
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These measures were a major point of friction in the trade negotiations between Beijing and Washington. However, China finally announced its suspension after a long-awaited meeting this week in South Korea between the presidents Xi Jinping y Donald Trump.
After the talks, China stated that will freeze certain export restrictions for one yearincluding those relating to rare earth materials.
The post China made a mistake by restricting rare earths: US Treasury Secretary appeared first on Veritas News.
