By Megan Leonhardt

U.S. Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent condemned China's decision last week to step up curbs on its exports of rare-earth metals, calling the actions part of a broader plan by Beijing to control the world's supply chains.

But while Bessent said China's "highly provocative move" comes after the U.S. has made significant efforts to de-escalate tensions, he said that the U.S. would rather not take action against Beijing.

"I believe China is open to discussion, and I am optimistic that this can be de-escalated ultimately. We are confident in the strong relationship between President Trump and President Xi. We've had substantial communication with the Chinese over the past few days, and we believe that there will be more forthcoming this week," Bessent said.

"China's announcement is nothing more than a global supply chain power grab," Greer said. "This move is not proportional retaliation. It is an exercise in economic coercion on every country in the world."

Since many semiconductor chips have these critical minerals and are in basically anything from smartphones and household appliances, the new restrictions, which have yet to take effect, would give China control over chips and the entire global supply chain.

Greer said that the U.S. "won't stand for" these moves from China. "We're in close communication with our allies, who have expressed similar views and who are similarly affected, the president has signaled some of the actions we are taking, or may take if the Chinese implement this system of controls on the world," Greer said.

President Donald Trump has threatened 100% tariffs on China in the wake of the latest export controls.

The news comes as Trump and President Xi Jinping are expected to meet at the Asia-Pacific Economic Cooperation summit later this month in Seoul.

Write to Megan Leonhardt at megan.leonhardt@barrons.com

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October 15, 2025 09:56 ET (13:56 GMT)

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