"Treasury Secretary Scott Bessent warned that China's attempt to overshadow President Donald Trump's Gaza peace deal with its export control announcement was highly inappropriate and a miscalculation. On Thursday, just hours after Hamas and Israel signed on to Trump's peace framework, Beijing announced it would tighten export controls on critical rare-earth metals and added five more elements holmium, erbium, thulium, europium, and ytterbium to its restricted list, bringing the total to 12 of the 17 rare-earth metals."
"I will take you back to last week and you and I were talking earlier about the Chinese exports controlled and we have approached our relationship with great respect, the Chinese are very big on symbolism and I can tell you it was highly inappropriate for them to announce these export controls on the day that the peace deal was announced and overshadow that."
China announced tightened export controls on five additional rare-earth elements — holmium, erbium, thulium, europium, and ytterbium — raising its restricted list to 12 of 17. The announcement occurred hours after Hamas and Israel signed onto President Trump's Gaza peace framework. U.S. officials called the timing highly inappropriate and a miscalculation, viewing the move as an attempt to gain leverage ahead of potential Trump–Xi talks amid the tariff conflict. Rare-earths are critical for electric vehicles and advanced weapons, making them a central pressure point in the U.S.-China economic power struggle. President Trump criticized China on Truth Social.
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