us china trade ties – Artifex.News https://artifex.news Stay Connected. Stay Informed. Sun, 02 Nov 2025 22:22:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://artifex.news/wp-content/uploads/2026/05/cropped-cropped-app-logo-32x32.png us china trade ties – Artifex.News https://artifex.news 32 32 U.S. could hike tariffs if China backtracks on rare earths: Treasure Secretary Bessent https://artifex.news/article70234134-ece/ Sun, 02 Nov 2025 22:22:00 +0000 https://artifex.news/article70234134-ece/ Read More “U.S. could hike tariffs if China backtracks on rare earths: Treasure Secretary Bessent” »

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U.S. Treasury Secretary Scott Bessent looks on as he speaks to the media, following the trade talks between the U.S. and China, in Kuala Lumpur, Malaysia October 26, 2025.
| Photo Credit: Reuters

U.S. President Donald Trump’s administration is prepared to raise tariffs on China if Beijing continues blocking rare earth exports, Treasury Secretary Scott Bessent warned on Sunday (November 2, 2025).

China announced on Thursday it would suspend for one year the restrictions it imposed in October on rare earth materials and technologies, but Mr. Bessent voiced concern that Beijing had not always followed through on its commitments.

“The Chinese have cornered the market [on rare earths], and unfortunately at times they proved to be unreliable partners,” Bessent told Fox News on Sunday.

Such metals are mined in several countries including the United States, but China has a virtual monopoly on processing these metals for industry usability.

The suspension was announced following recent talks between Mr. Trump and his Chinese counterpart Xi Jinping in South Korea.

Some of the export restrictions previously decided by Beijing remain in place.

Following the agreement and the “goodwill” between the leaders of the world’s two largest economies, Mr. Bessent said he hoped “we can depend on them to be more reliable partners.”

If not, “we could threaten the tariffs again,” Mr. Bessent warned, stressing Washington has been prepared to use “maximum leverage.”

“We don’t want to decouple with China, but we’re going to have to de-risk,” he said.

Mr. Bessent also accused previous U.S. governments of being “asleep at the switch” as Beijing spent years putting together its rare earths strategy.

“Now this administration, we’re going to go at warp speed over the next one, two years, and we’re going to get out from under this sword that the Chinese have over us — and they have it over the whole world,” he told CNN’s “State of the Union” talk show.

As part of the announced deal, Washington will reduce the level of tariffs imposed on Chinese exports to the United States by 10%.

The agreement also requires China to take significant measures to stem the flow of fentanyl into the United States, where consumption of the powerful synthetic opioid has caused tens of thousands of deaths.

According to the U.S. Drug Enforcement Administration, China is by far the largest supplier of fentanyl to the United States.



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US Wants To Work With China, Says Joe Biden Official Gina Raimondo https://artifex.news/us-wants-to-work-with-china-says-joe-biden-official-gina-raimondo-4339862/ Tue, 29 Aug 2023 13:03:57 +0000 https://artifex.news/us-wants-to-work-with-china-says-joe-biden-official-gina-raimondo-4339862/ Read More “US Wants To Work With China, Says Joe Biden Official Gina Raimondo” »

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US firms have reported growing challenges with operating in China (Representational)

Washington:

The United States wants to work with China to solve problems such as climate change and artificial intelligence, US Commerce Secretary Gina Raimondo told China’s Premier Li Qiang at a meeting in Beijing on Tuesday.

Gina Raimondo is the latest US President Joe Biden’s administration official to visit China in a bid to strengthen communications, particularly on economy and defense, amid concerns that friction between the two superpowers could spiral out of control.

“There are other areas of global concern, such as climate change, artificial intelligence, the fentanyl crisis, where we want to work with you as two global powers to do what’s right for all of humanity,” Gina Raimondo said at the Great Hall of the People meeting.

Li Qiang said sound economic relations and trade cooperation would be beneficial not only to their countries but also to the whole world.

The United States and China used to be each other’s largest trading partners but Washington now trades more with neighbors Canada and Mexico, while Beijing deals more with Southeast Asia.

Earlier on Tuesday, Gina Raimondo told China’s economy chief He Lifeng that the US does not seek to disengage from its rival.

“While we will never compromise in protecting our national security, I want to be clear that we will never seek to decouple or hold China’s economy back,” she said.

He Lifeng expressed Chinese concerns on topics including “Section 301” US tariffs, export controls and two-way investment restrictions, the Chinese government said.

Former US President Donald Trump imposed tariffs in 2018 and 2019 on thousands of imports from China valued at some $370 billion at the time after an investigation found that China was misappropriating US intellectual property and coercing US companies to transfer sensitive technology to do business.

Prior to her meeting with Lifeng He, Gina Raimondo and Tourism Minister Hu Hepin agreed to hold the 14th China-US Tourism Leadership Summit in China in the first half of next year, a sign that improving people-to-people ties is important to putting a floor under the bilateral relationship.

The step aimed to revive and develop tourism co-operation between the two nations, the Commerce Department said. The last such summit was held in 2019 in Seattle.

Raimondo has made boosting travel and tourism a big part of her trip. China and the United States agreed this month to double the number of flights permitted between them, which are still only a fraction of the number before the pandemic.

If China returned to 2019 US tourism levels, that would add $30 billion to the US economy and 50,000 US jobs, Gina Raimondo said.

Gina Raimondo plans a visit on Wednesday to Shanghai Disneyland, a joint venture of Walt Disney and Chinese state-owned Shendi Group.

US firms have reported growing challenges with operating in China, which has sharply criticized US efforts to block its access to advanced semiconductors.

The first meeting of an initiative to exchange information on export control enforcement was held on Tuesday at the commerce ministry in Beijing, led by Matthew Axelrod, US assistant secretary for export enforcement.

Such an exchange offered a platform to reduce misunderstandings of US national security policies, Raimondo said on Monday but she added that Washington would not compromise or negotiate on such matters.

Raimondo said on Monday she had raised concerns about curbs on chipmakers Intel and Micron in more than four hours of talks on economic and trade issues with Commerce Minister Wang Wentao on a range of US business issues.

China said the talks were a “rational, candid and constructive communication”.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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