US Warns of Global Economic Decoupling Over China’s Rare Earth Export Controls
US Treasury Secretary Scott Bessent has warned that China’s sweeping new export controls on rare earth elements could force global economic decoupling. The measures, scheduled for December implementation, have drawn sharp criticism from US officials who describe them as “economic coercion” affecting global supply chains.
US Officials Issue Stern Warning Over China’s Export Controls
United States Treasury Secretary Scott Bessent has delivered a stark warning to Beijing, stating that new export controls on rare earths and critical minerals could force the US and other nations to “decouple” from China, according to reports from a Wednesday news conference. Bessent, speaking alongside US Trade Representative Jamieson Greer, emphasized that while the world prefers “de-risking” rather than complete decoupling, China’s actions are pushing global economies in that direction.