Yazılar

U.S. Weighs Sweeping Curbs on Software Exports to China Amid Rare Earth Dispute

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The Trump administration is considering a sweeping new set of export restrictions targeting China’s access to U.S. software, in retaliation for Beijing’s tightening of rare earth shipments. The plan, discussed by senior officials and confirmed by multiple sources, could block exports of products ranging from laptops to jet engines that rely on U.S.-made or U.S.-designed software.

The proposal, which mirrors export controls once imposed on Russia, is part of a broader strategy to pressure China ahead of President Trump’s meeting with President Xi Jinping in South Korea later this month. While the plan remains under discussion and may not be implemented, U.S. Treasury Secretary Scott Bessent said “everything is on the table,” including coordinated measures with G7 allies.

Analysts warned the move could have far-reaching global implications, disrupting supply chains and triggering economic retaliation from Beijing. Emily Kilcrease, a former U.S. trade official, said software restrictions would be “extraordinarily difficult to implement” and could backfire on American industry.

The Chinese embassy condemned Washington’s potential actions as “unilateral and coercive,” vowing to protect China’s interests if the U.S. proceeds. U.S. markets reacted nervously to the report, with the S&P 500 closing down 0.5% and the Nasdaq falling about 1%.

UK and US launch joint taskforce to streamline capital markets, boost crypto cooperation

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Britain and the United States will establish a new Transatlantic Taskforce for Markets of the Future aimed at cutting red tape for firms seeking to raise capital across both markets and strengthening cooperation on crypto assets, the UK Treasury announced Monday.

The taskforce was agreed by UK finance minister Rachel Reeves and U.S. Treasury Secretary Scott Bessent during President Donald Trump’s recent state visit to Britain. It will be jointly chaired by finance ministry officials from both nations, with regulators also participating. The body is expected to deliver its first recommendations within 180 days, focusing on short-term improvements to collaboration and exploring longer-term opportunities in wholesale digital markets.

The move reflects London’s push to reinforce its role as a global financial hub after losing ground in Europe post-Brexit, with many companies shifting stock listings to the U.S. It also marks an effort to align Britain’s emerging digital asset regulation with the U.S. model, which relies on applying existing financial rules rather than creating an entirely new framework, as the European Union has done.

By smoothing capital markets access and harmonizing crypto oversight, both governments aim to attract investment, reduce compliance burdens, and position themselves at the forefront of digital finance.

U.S. Treasury’s Bessent to Meet China’s He Lifeng in Madrid on Trade, TikTok, and Money Laundering

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U.S. Treasury Secretary Scott Bessent will meet Chinese Vice Premier He Lifeng in Madrid next week for high-level talks covering trade, TikTok, and illicit finance, the Treasury said Thursday. The meetings, set for September 12–18, coincide with Bessent’s trip to Spain and Britain, ahead of his participation in President Donald Trump’s state visit to the UK (Sept. 17–19).

Focus Areas

  • Trade and Tariffs: The talks mark the fourth major in-person meeting between Bessent and He this year, as Washington and Beijing seek to uphold a fragile trade truce. A July meeting in Stockholm resulted in a 90-day tariff pause extension, approved by Trump until November 10. U.S. tariffs on Chinese goods remain steep at ~55%, with agriculture a sticking point. Washington accuses China of shifting farm imports to Brazil and Argentina, undercutting U.S. soybean farmers.

  • TikTok Deadline: ByteDance’s short-video platform faces a U.S. ban unless it is sold to U.S. ownership. Trump extended TikTok’s divestment deadline to September 17. Treasury confirmed the app will be discussed in Madrid, after not featuring in July’s talks.

  • Money Laundering Cooperation: Both sides will address illicit finance, which Washington links to Chinese banks allegedly enabling Russia’s access to military technologies amid the Ukraine war. Treasury retains the authority to sanction Chinese banks involved in such transfers, though it has not yet exercised it.

Broader Context

The Madrid meeting comes as the world’s two largest economies attempt to stabilize relations:

  • Rare earth exports from China to the U.S. were restored under the current truce.

  • However, agriculture and tariffs remain unresolved, with U.S. farmers facing a shrinking share of the Chinese market.

  • Trump has maintained high tariffs on Chinese goods, including those tied to fentanyl supply chain disputes.

The outcome of the Madrid talks remains uncertain, particularly on farm trade or tariff relief, but the inclusion of TikTok and money laundering suggests Washington is broadening the agenda beyond traditional trade disputes.