With Communist China’s announcement of an intention to impose sweeping new controls on the export and use of its “rare earth” and other critical materials, Beijing is manifestly waging economic war not just on us, but the whole world.
In a somber press conference with Treasury Secretary Scott Bessent in Washington yesterday, Trade Representative Jamison Greer declared: “China's announcement is nothing more than a global supply chain power-grab….It is an exercise in economic coercion on every country in the world.”
In response, President Trump has threatened to impose a further 100 percent tariff on Chinese imports if the CCP proceeds. Secretary Bessent hopes to buy time, suggesting we just “derisk” our trade ties with China, rather than decouple them.
Depending on our greatest enemy ever for anything important is insane. We must stop underwriting the CCP and start fully decoupling now.
This is Frank Gaffney.