ZGXT(SZ:000831) Sou Hu Cai Jing·2025-10-26 06:12Group 1 - The U.S. government exhibits contradictory stances regarding China, with Trump declaring a trade war while Treasury Secretary Bessent proposes a trade-off involving tariffs and rare earth export controls [1] - Bessent's proposal to exchange tariff relief for China's delay in rare earth export controls highlights a misjudgment of the strategic situation between the U.S. and China, emphasizing the strategic importance of rare earths [1][2] - The U.S. attempts to leverage an expiring tariff truce to negotiate on national security issues, which is seen as absurd given the high tariffs still imposed on Chinese goods [4] Group 2 - The U.S. is deeply anxious about China's technological monopoly in the rare earth sector, as China controls nearly 90% of rare earth separation and refining technology, which is critical for U.S. military equipment [5] - The U.S. military's reliance on Chinese rare earths is significant, with 87% of its main equipment dependent on these materials, raising concerns about supply disruptions if China enforces stricter controls [5] - The U.S. has implemented export controls on over 3,000 items, which is three times more than China's, indicating a double standard in its approach to trade negotiations [4] Group 3 - The Trump administration employs a "carrot and stick" approach to pressure China, revealing a lack of effective strategy as China counters with its own measures [6] - China's response to U.S. tariffs includes reciprocal actions and a restructuring of its supply chains to enhance economic resilience, demonstrating a shift away from U.S. dominance [6] - China's rare earth export controls are framed as regulatory measures rather than outright bans, maintaining a level of openness for compliant applications [6] Group 4 - China maintains a firm stance on negotiations, insisting on equality, respect, and mutual benefit, while rejecting any compromises on core interests [8] - China's specific demands include restoring tariffs to pre-2018 levels and lifting unreasonable sanctions on semiconductor materials and technologies [8] - The failure of Bessent's proposal is attributed to its reliance on outdated coercive tactics, overlooking China's proactive stance in the strategic competition [8][9]