中国三记重锤，特朗普48小时变脸

Core Viewpoint - The article discusses the escalating trade tensions between the U.S. and China, highlighting President Trump's fluctuating stance and China's strategic export controls on critical materials as a countermeasure to U.S. tariffs [1][3]. Group 1: U.S. Response and Market Reaction - President Trump initially threatened to impose a 100% tariff on all Chinese imports starting November 1, leading to significant market sell-offs, termed "Black Friday" [1]. - Following China's announcement of export controls, Trump's tone shifted to a more conciliatory one, stating "Don't worry about China, everything will be fine" [1]. - The U.S. stock market reacted positively to Trump's softened rhetoric, with Dow futures rising by 0.8%, S&P 500 futures by 1.04%, and Nasdaq futures by 1.34% [15]. Group 2: China's Strategic Measures - On October 9, China announced export controls on key materials including superhard materials, rare earth equipment, and lithium batteries, effective November 8 [3][5]. - The measures target critical components of the U.S. industrial supply chain, marking a shift from traditional tariff responses to more strategic controls [3][5]. - China holds over 85% of the global rare earth processing capacity, emphasizing its strategic advantage in high-tech sectors [5]. Group 3: Trade Conflict Background - The trade conflict has evolved since April, with multiple rounds of tariff increases from both sides, including a peak of 125% tariffs on Chinese goods by the U.S. [8][12]. - The Geneva talks in May led to a temporary reduction in tariffs, but subsequent U.S. actions reignited tensions, including adding Chinese entities to export control lists [13][14]. Group 4: China's Position and Future Outlook - China's response is characterized as a precise legal strategy rather than mere retaliation, with a focus on maintaining national security and international obligations [19][23]. - The Chinese government has indicated that export controls will not completely halt exports but will require licenses for compliance [22]. - As the November deadlines approach, the ongoing trade dynamics are expected to continue influencing global markets [26][27].