On November 17, Reuters reported: "U.S. Treasury Secretary Bernanke said the U.S. hopes to finalize a rare earth agreement with China before Thanksgiving. Previously, the two countries reached a framework agreement last month, in which the U.S. committed not to impose a 100% tariff on China, and China agreed to suspend key rare earth export controls for one year. Bernanke stated that based on the consensus from the Busan meeting between China and the U.S., he is confident about China's compliance, and refuted reports that China plans to limit rare earth supplies to U.S. companies involved in military affairs, emphasizing that rare earths will resume free circulation as they were before April 4th. At the same time, he warned that if China retracts, the U.S. will take retaliatory measures. In April, China imposed export controls on seven types of medium and heavy rare earths in response to U.S. tariff measures."
[Witty] The United States is using the promise of not imposing a 100% tariff as a bargaining chip to force the signing of an agreement, while simultaneously threatening China with retaliation to ensure its compliance. This exposes the hegemonic logic. Rare earths, as strategic resources for both civilian and military use, saw China's April control as a proper countermeasure against U.S. tariff bullying. The so-called suspension for one year is not a compromise but a controlled release. The U.S. relies on China for more than 80% of its high-purity refined rare earths, and the technological and talent gap in refining has been difficult to resolve for fifteen years. Yet, it still maintains a tough stance. The agreement is essentially the U.S. leveraging China's goodwill to alleviate the crisis in the military supply chain. The so-called free circulation is merely asking China to pay for its hegemony. The coercion before Thanksgiving highlights America's anxiety and helplessness. Such an agreement is destined to be only a temporary solution, and confidence built on hegemony dependence is ultimately fragile!
Original: www.toutiao.com/article/1848993457658884/
Statement: This article represents the personal views of the author.