China’s Rare Earth Clampdown Sparks Trade War Shockwaves in Tech and Stocks
China expanded export controls to five more rare-earth elements on October 9, bringing 12 of 17 under curbs and adding dozens of refining tools to its list. Foreign firms now need Chinese approval to export magnets or materials containing these metals. The move comes weeks before a planned Trump-Xi meeting at APEC. U.S. officials criticized the decision, and President Trump threatened new tariffs on Chinese goods.