US-China Trade Confusion
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 clarification, $2.5 trillion in S&P 500 market cap evaporated during Friday's selloff. Beijing stated that the controls are "not a ban" and that export applications meeting regulations will be approved, with licensing exemptions possibly offered.
describing the measures as a "legitimate practice" to safeguard national security amid military applications of rare earths.
Author's summary: Trump comments on Xi's "bad moment" amidst trade confusion.