Scott Bessent has said Beijing’s export controls on rare earth minerals damage the global economy
US Treasury Secretary Scott Bessent has said Beijing’s new export controls reflect a ‘Leninist business model’ that could backfire on China and slow global growth.
Last week, China announced plans to expand export restrictions on certain strategic minerals with dual-use in military applications, citing national security. Under the new rules, foreign firms must obtain special approval before exporting goods containing even minimal amounts of Chinese-sourced rare earth elements. US President Donald Trump responded by threatening to target Chinese…
Read the full article at RT.COM
