Treasury Secretary Scott Bessent has accused China of deliberately trying to hurt the global economy after Beijing imposed sweeping new export controls on rare earths and critical minerals, the Financial Times reported.
In the interview, published Monday, Bessent said the timing of China’s restrictions — coming just weeks before President Donald Trump is expected to meet with Chinese President Xi Jinping in South Korea — reflects deep economic trouble in Beijing.
“This is a sign of how weak their economy is, and they want to pull everybody else down with them,” Bessent told the news outlet.
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