As the trade tensions heat up, did you know that China controls nearly 90% of the world's rare earth processing? This shocking fact underpins the escalating conflict as U.S. Treasury Secretary Scott Bessent declares, “this is China versus the world.” In a recent interview with Fox Business on October 13, 2025, Bessent didn't hold back, asserting that China has pointed a metaphorical bazooka at the supply chains of the free world.

China's export restrictions on these crucial minerals have thrown a wrench in the industrial machine of many nations. Bessent emphasized that we are dealing with a command-and-control economy that will not dictate the rules for the U.S. or its allies. “We are going to assert our sovereignty in various ways,” he stated, highlighting the U.S. commitment to rallying global support against these provocations.

The urgency of the situation is palpable. Bessent revealed that meetings with allied nations, including the Europeans and India, are on the agenda for the coming week. He expressed confidence in securing substantial backing from democracies across Asia as they confront this challenge. “The United States is pushing for peace in the world. China is financing war,” he declared, making the stakes clear in this geopolitical game.

Meanwhile, former President Donald Trump is anticipated to meet with Chinese President Xi Jinping later this month in South Korea, raising questions about the future of trade relations. Just as tensions mounted, Trump took to Truth Social, attempting to ease concerns about a trade war and a drastic 100% tariff threat on Chinese imports. “Don’t worry about China, it will all be fine!” he proclaimed, attempting to project an image of harmony amidst the chaos.

However, the reality is stark: China dominates the rare earth minerals market, controlling about 70% of mining and almost 90% of processing capacity globally. As the U.S. grapples with its own tariffs—currently at 55% on Chinese goods—it’s clear that the stakes are high. India, facing its own 50% tariff from the U.S. due to reciprocal trade measures, has labeled these actions as “unjustified and unreasonable.” With such serious implications for international relations and global trade, the question remains: can the U.S. and its allies effectively counter this growing threat?

This is a pivotal moment in the narrative of global trade, and as we delve deeper, the implications of these tensions will ripple through economies worldwide. This AI generated newscast about the U.S. and China is just the beginning of a broader discussion on the future of international partnerships.