Washington: Beijing’s controls on the export of rare earths offend the entire world
The US Treasury Secretary said Scott Besant The controls imposed by Beijing at Exporting rare earths would offend the whole world, not just United States.
Besant said in a press conference on Wednesday: "Don’t be fooled, it’s China versus the rest of the world"
However, he said he was optimistic about the talks with Beijing.
Besant said on CNBC: "We’re talking at a very high level now"
He added that according to his information, President Donald Trump is still planning to meet his counterpart Xi Jinping soon, and said: "As far as I know, President Trump supports it"
Trump talks about a meeting with Xi
Trump had talked about a meeting with Xi on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit scheduled to be held on October 31 and November 1 in South Korea, before announcing that there was no longer any reason for the meeting.
Trade tensions between Washington and Beijing have escalated sharply since Trump returned to the White House after he made China a major target in the framework of His trade war.
Then negotiations took place between the two parties on a fragile truce, in which Besant played a major role.
Trump promised Beijing last week to increase customs duties on it after it decided to impose additional controls on the export of rare earth technologies and elements.
He threatened to impose additional customs duties of 100% soon on Chinese products entering the United States. Then he threatened to stop purchasing cooking oil from China.
China defends controls
In the face of criticism from the United States and Europe, China on Wednesday defended placing controls on the export of rare earth elements, stressing that they are in line with international practices.
Chinese Foreign Ministry spokesman Lin Jian said: "China implements controls in accordance with the law to protect world peace and regional stability, and to fulfill its international obligations, such as non-proliferation"
He added: "This is also in line with international practices"We are keen to enhance dialogue and exchanges with all countries regarding export controls, to maintain the security and stability of global production and supply chains.".
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