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 has 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 was lost during Friday's selloff.
Beijing's clarification stated that the controls are "not a ban", and that export applications meeting regulations will be approved, with licensing exemptions possibly being offered. This is described as a "legitimate practice" to safeguard national security amid military applications of rare earths.
Xi had just had a "bad moment"
Author's summary: Trump comments on Xi's moment amidst trade confusion.
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