00:00U.S. Trade Rep Jameson Greer and Treasury Secretary Scott Besant take to the podium to deliver the latest salvo in the U.S.-China trade war.
00:10They're decrying Chinese export controls on rare earths.
00:13These minerals are crucial to tech, and China controls 90% of production.
00:18China says foreign companies must now get its approval before they can export products that contain even tiny amounts of rare earths,
00:25letting China decide where rare earths can and can't go.
00:30Some think this may be an attempt to pressure the U.S. on its own chip export controls.
00:35But regardless of the motive, Besant says the U.S. won't back down.
00:40And make no mistake, this is China versus the world.
00:45They have put these unacceptable export controls on the entire world.
00:51China is a command and control economy, and we and our allies will neither be commanded nor controlled.
01:00The controls could hit smartphones, AI systems, cars, and more.
01:04Already, the U.S. is threatening an extra 100% tariff on Chinese goods in retaliation.
01:10And Besant says the controls are a sign there's a risk of decoupling between the U.S. and China.
01:15In Taiwan, the tech sector is watching closely, as the country's chip sector also makes use of rare earths.
01:23Economy Minister Gong Minxin has encouraged recycling rare earths as one way of staving off a shortage.
01:29He says Taiwan stands ready to join with the rest of the world in the face of China's export controls.
01:34Some in the tech sector say a lot depends on how long the controls are in place and how heated U.S.-China trade friction gets.
01:53Others, while hoping for a return to normal, see a chance the U.S. could build
02:13its own rare earths production as a countermeasure.
02:34October 29th could be a date to watch as tensions mount.
02:38That's when U.S. President Donald Trump and China's President Xi Jinping
02:42could meet in South Korea, where both will be attending the APEC forum.
02:47It could be a chance to ease tensions, from China halting U.S. soybean imports
02:51to new sanctions on American shipbuilders and port fees on U.S. vessels.
02:55Whether the two meet, though, and regardless of the outcome,
02:59Beijing is showing its willingness to throw its weight around,
03:02with global consequences.
03:04James Lin and John Van Trieste for Taiwan Plus.
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