In a pointed critique of China’s recent trade practices, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer condemned the country’s actions during a press conference on October 15, 2025. The officials characterized China’s maneuvers as a “global power grab” and highlighted the risks associated with what they termed the “Chinese chokehold” on rare earth materials—crucial components in various high-tech industries.
Bessent emphasized the U.S. government’s commitment to avoiding escalation of trade tensions, indicating that President Donald Trump is open to meeting Chinese President Xi Jinping later this month in South Korea to discuss the ongoing issues. When asked whether there exists potential for a constructive economic relationship with China, Greer responded affirmatively, although he underscored the need for a more balanced trade dynamic between the two nations.
Greer expressed frustration over China’s insistence on discussions surrounding rare earth elements, stating, “To paraphrase the secretary in one of our recent meetings with the Chinese, this is the last time we want to be talking about rare earths with the Chinese. Unfortunately, that is not the last time they want to be talking about it.” He reiterated the importance of addressing trade imbalances, which he described as “wildly imbalanced,” and acknowledged the heightened risks involved in their current trading relationship.
Tensions between the U.S. and China had escalated significantly following a recent announcement from China regarding a major expansion of export controls on rare earth elements. This move raised prospects for an all-encompassing trade war, prompting President Trump to threaten an increase in tariffs on Chinese goods to unprecedented levels, which resulted in heightened volatility in financial markets and strained diplomatic relations.
In further remarks, Bessent accused China of premeditated actions, dismissing Beijing’s narrative that its policies were simply reactive to U.S. measures. He revealed that a lower-level Chinese trade official had previously made a troubling statement, threatening to “unleash chaos” on the global system if the U.S. proceeded with port fees on Chinese vessels.
As the U.S. seeks to recalibrate its trade relationship with China, the officials’ comments underscore a prevailing sentiment within the administration: the imperative to secure a fair trading environment while managing the complexities and tensions that arise from their interactions on the global stage.
