Tariff crisis

US-China relations
China's exports of rare earth metals to the US plummet

China's exports of rare earth metals to the US plummeted in September, Reuters reports.

In September, China exported a total of 5,774 tonnes, compared to 6,146 tonnes in August. Exports to the US plummeted by 29 percent. The figure is sensitive because it is part of the trade conflict between China and the US.

– I don't want China to play the rare earth game with us, Donald Trump told reporters aboard Air Force One on Sunday.

Earlier in October, US Treasury Secretary Scott Bessent stated that several countries may be forced to "decouple" from China due to its stricter export restrictions on rare earth metals. China stated last week that the US is deliberately trying to misinterpret the restrictions and create “global concern.” 

China's growth
Lowest growth in China in a year – tariff war weighs

China's GDP grew 4.8 percent between July and September on an annual basis, according to the National Bureau of Statistics NBS. This is the lowest growth rate in a year but slightly above analysts' expectations, according to Bloomberg.

A weaker real estate sector and the trade war with the United States are some of the reasons behind the weaker demand, writes Reuters.

China's GDP grew 1.1 percent sequentially in the third quarter.

At the same time, the one-year reference rate was left unchanged at 3 percent, as was the five-year reference rate at 3.50 percent. Both announcements were expected, according to Trading Economics estimates.

China reiterates the goal of achieving 5 percent growth for the full year. According to Eurasia head Dan Wang, the market expected China to miss the full-year target.

– But based on the figures for the first three quarters, it looks like the target will be reached, which indicates that China can withstand pressure from the US, he says.