The Trivium China Podcast Ep 22 - The tariffs “have become a joke” + rare earth controls
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Apr 15, 2025 Cory Combs, Head of supply chain research at Trivium China and expert on critical minerals, joins for an insightful conversation about the evolving U.S.-China trade tensions. He discusses the recent pause in tariff escalations and its potential longevity, emphasizing that a stalemate is better than more drastic measures. The talk then shifts to China's strategic export controls on rare earth elements, revealing their significance for global supply chains and national security. Combs shares the implications for companies navigating these turbulent waters.
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China Calls Tariff Escalation A Joke
- China matched US tariffs up to 145% but declared the escalation game a "joke" and signaled no further retaliation.
- This suggests China seeks to avoid further trade war escalation beyond current tariff levels.
Unclear Endgame Keeps Tariffs High
- The trade conflict's future hinges on unclear end goals, with tariffs likely plateauing.
- China aims to proportionally retaliate without escalation, leaving decision-making power mostly to the US.
Leadership Talks Stalemate Problem
- China avoids direct leader-level talks until prior arrangements are set, but the US demands leader-level engagement.
- This creates a stalemate blocking progress and escalating tensions.