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China defends rare earth export curbs amid U.S. tensions
China defends rare earth export curbs as legitimate amid rising tensions with U.S. over tariffs and impending Trump-Xi meeting
China defends rare earth export curbs as legitimate amid rising tensions with U.S. over tariffs and impending Trump-Xi meeting
– China defends rare earth export restrictions as lawful responses to U.S. tariffs and promotes global peace.
– U.S. imposes 100% tariffs, affecting trade relations and causing significant market losses.
The controls include not only rare earth materials but also intellectual property and technologies related to them.
The ministry noted that these restrictions are not outright export bans, asserting that applications meeting certain criteria will still be approved. It indicated confidence that the measures would have a minimal impact on the supply chain. Foreign entities will need a license if exporting products containing over 0.1% of locally-sourced rare earths, with weapons-related applications automatically denied.
In response, U.S. President Donald Trump announced on October 10 new 100% tariffs on Chinese imports, beginning November 1, along with export controls on critical software. Following these statements, global stock markets reacted negatively, resulting in a loss of $2 trillion in market capitalisation.
China contends that the U.S. operates double standards, as its own control list comprises over 3,000 items compared to China’s fewer than 1,000. China plays a crucial role in the rare earth supply, holding approximately 70% of the global market.
Trade Tensions
In addition to the export controls, China disclosed plans to begin charging U.S. ships docked at its ports, mirroring new U.S. fees for Chinese vessels. This action is presented as a necessary counter to U.S. measures, complicating the atmosphere of ongoing trade discussions.
U.S. and Chinese officials have engaged in various negotiations over recent months, focusing on topics such as the divestment of TikTok, but tensions remain high following recent developments.
News
Big Tech earnings spark investor unease over AI spending
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.
Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.
Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.
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Federal Reserve holds interest rates amid economic uncertainty
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.
The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.
Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.
Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.
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#FederalReserve #InterestRates #Economy
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Trump warns Iran as U.S. naval forces approach amid rising tensions
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.
U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.
Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression.
The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.
#Trump #Iran #USForeignPolicy
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