Maurits C. Boas Chair of International Economics at Harvard University Kenneth Rogoff speaks during a panel discussion on “Monetary Policy Challenges in a Global Economy” at the 24th Jacques Polak Annual Research Conference at the IMF headquarters in Washington, DC, on Nov. 8, 2023. The IMP hosted the conference to discuss “Global Interdependence.” Alex Wong/Getty Images
News Analysis
Just as the U.S.–China trade war appeared to be easing, China suddenly imposed its toughest restrictions on rare earths, shocking the Trump administration and global markets. However, the former chief economist of the International Monetary Fund said that in its attempt to negotiate better trade terms with the United States, Beijing is attempting to emulate President Donald Trump’s negotiating style. However, he said that in this trade war, China’s use of rare earths as a trump card will severely weaken its monopoly position as countries work to find other sources.
