Rare Earth Minerals: Donald Trump trapped in his own web! When China turned its ears, America came to India for shelter – China America rare earth minerals export curb usa hope india help Donald trump tariff war treasury secretary scott bessent

The US has indicated that it is looking for support from its allies, including India, in its efforts to counter China’s recent rare earth export controls. US Finance Minister Scott Besant said that Washington will stand with its global partners in a situation like China versus the world. In an interview with Fox News, Besant said, ‘We are already in touch with our colleagues. We will have meetings with them this week and I am confident that we will get solid support from the democratic governments of European countries, India and Asia. This is a global problem and I am confident that our global allies will join us.

strictness on china

Besant made it clear that America will not allow these export curbs of China to continue and every option is in front of them. This means that if necessary, Washington can take drastic steps. The US Treasury Secretary said, ‘Last summer we had to implement 12 measures against China, which had an impact on the natural resources that are used in making jet engines and its parts. Due to this they had to ground a large part of their civil aircraft fleet. We have many tough options that we can then use. US President Donald Trump had warned on Friday that if Beijing does not remove its export controls, 100 percent additional duty will be imposed on Chinese products from November 1. Along with this, America is also considering imposing controls on the export of important software.

accused of hostile behavior

In another post, Trump had hinted at canceling the meeting with Chinese President Xi Jinping and accused Beijing of ‘Hostile Trade Policy’. However, on Sunday he took a softer stance, saying there was nothing to worry about and that Xi Jinping was just going through a difficult moment. China last week tightened export controls on rare earth minerals and imposed additional duties on American ships. This move came at a time when Washington had further tightened its export rules. Finance Minister Besant confirmed that the meeting between Trump and Xi Jinping is still fixed and it will take place in South Korea. He said, ‘President Trump has said that the tariffs will not go into effect before November 1. He will meet party chair Xi Jinping in Korea. There have been substantial talks between the two sides over the weekend.