Bessent: 'Everything Is on the Table' to Respond to China's Rare Earths Controls
Asked whether the Trump administration is considering new software-related export controls on China in response to Beijing's sweeping export restrictions over rare earths, Treasury Secretary Scott Bessent said: "I will confirm that everything is on the table."
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Bessent, speaking to reporters Oct. 22, added that the U.S. is entering trade negotiations with China "with good intentions, with great respect," according to a pool report. "The Chinese have put these rare earth export controls not only on the U.S. but on the whole world, and if these export controls, whether it is software, engines or other things happen, it will likely be in coordination with our [Group of 7] allies."
Trump earlier this month threatened to impose export controls on "any and all critical software" in retaliation for Beijing's rare earth restrictions (see 2510100045). Reuters reported Oct. 22 that the U.S. is considering a range of controls on software-powered exports to China, including laptop computers and jet engines.