US-China Trade War Escalation
A sudden escalation in the U.S.-China trade war threatens to undo months of progress between the world's two largest economies.
The unraveling of productive talks began when China announced new global export controls on rare earth minerals and products containing these minerals.
China said the measures were taken "in accordance with laws and regulations to improve its export control system, better safeguard world peace and regional stability, and fulfill international non-proliferation obligations.”
U.S. Trade Representative Jamieson Greer accused China of having "wildly overstepped the bounds of what's acceptable," and that China's "power grab won't be tolerated.
Author's summary: Trade war escalates between US and China.
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