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Beijing Turns Aggressive; U.S. Treasury Secretary Strikes Back — Latest U.S.–China Conflict Rekindled

China

On October 14, U.S. Treasury Secretary Bessent criticized Beijing in an interview with the Financial Times, accusing it of dragging down the global economy by imposing a new round of export restrictions on rare earths. On the same day, China’s Ministry of Commerce announced that it had placed five U.S.-related subsidiaries of South Korea’s Hanwha Ocean Co., Ltd. on its countermeasure list. Beijing’s aggressive stance is expected to push U.S.–China relations back into a deadlock....

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