Source: New York Post
WASHINGTON — Treasury Secretary Scott Bessent described China’s lead trade negotiator as “unhinged” Wednesday — and announced the US is planning “price floors” and “forward buying” to prevent future supply chain disruptions by Beijing’s export controls. Bessent made the remarks five days after President Trump threatened an additional 100% tariff on Chinese goods in response to Beijing’s rules requiring companies to seek permission to export products made with rare-earth or critical minerals, reducing the flow of batteries, magnets and semiconductors to the US. The Treasury secretary revealed more of the backstory behind China’s surprise rule changes announced Oct.
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