US-China Trade Confusion
Trump stated that Xi had just had a "bad moment" amidst the US-China trade confusion.
The US-China tariff risk shifted from a threatened 100% levy to mixed de-escalation signals after Beijing clarified its rare-earth "export controls" were not an export ban. Despite this, $2.5 trillion in S&P 500 market cap evaporated during Friday's selloff.
- Beijing's clarification stated the controls are "not a ban".
- Export applications meeting regulations will be approved.
- Licensing exemptions may be offered.
Beijing described the measures as a "legitimate practice" to safeguard national security amid military applications of rare earths.
Trump says Xi just had "bad moment"
Author's summary: Trump comments on Xi's moment amid trade confusion.