🌍 **中国出口管制引发贸易紧张**：文章指出，中国对稀土等关键商品实施出口管制，被视为“脱轨”行为，打破了既有的贸易协议，直接导致了美国采取反制措施，如可能在11月1日加征高额关税，这使得贸易壁垒未能解除，新的贸易机会也未出现。

📉 **中国经济与战略失利**：作者推测，中国近期采取强硬贸易策略可能与其国内经济处于衰退以及在中东和平协议和俄乌冲突中面临的战略失利有关。中国作为出口导向型经济体，对美国这个庞大的消费市场有迫切需求，因此“脱轨”行为最终可能对其自身造成更大的损害。

💰 **挑战美元地位与BRICS联盟**：文章揭示了中国及其BRICS盟友通过大量购买黄金、大幅减持美国国债，企图削弱美元世界储备货币地位的策略。特朗普政府对此持强硬态度，并威胁对加入BRICS的国家征收关税，认为BRICS及其盟友的举动是对美元的直接攻击。

🤝 **呼吁对话与潜在冲突**：文章最后建议，中美两国领导人应在APEC会议上进行会晤，以寻求缓和贸易紧张局势、促进共同繁荣。然而，如果中国继续采取“任性”和“输不起”的态度，美国总统特朗普将不会容忍其不良行为，并会坚决应对。

The long and the short of the U.S.-China fisticuffs is that no trade barriers are coming down, and no new trade openings are popping up. China has gone rogue by putting export controls for rare earths and other commodities on the entire world. And of course, the U.S. has got to punch back. Scott Bessent is right, China is a command-and-control economy, and our allies will neither be commanded nor controlled.

Rare earth deals were struck in various meetings in London, Geneva, Madrid, but China is breaking the deals. Just like they broke the deal for the Phase One trade agreement that was signed in January 2020. They go rogue. Maybe the Commerce Ministry is going rogue. Maybe Xi is going rogue. Who knows. But China going rogue is gonna hurt them more than it hurts us. It's their economy that's in recession shape, and we are the great consumer power that they desperately need.

Now China is surely losing friends if they had any to begin with. Australia’s furious at China. Japan. The EU. And of course, the U.S. Mr. Trump will slap a huge tariff on November 1st, unless China relents. The U.S. must punch back.

I still think it could be that China is throwing a temper tantrum because they’ve been so badly beaten in the Middle East with President Trump’s historic peace deal and the destruction of China-backed Iran. Another defeat may be looming as Mr. Trump focuses on ending the Russia-Ukraine war. China's backing the wrong horse there too.

Meanwhile, the U.S. Senate wants to slap a 500% tariff on China for the purchase of Russian oil. 100% will do fine. Once again, China’s backing the wrong horse. By the way, with a 50% tariff, India has stopped buying Russian oil. 

Chinese trade petulance is bigger than rare earths. They and their BRIC allies have been buying enormous quantities of gold over the past ten or more years, while they have reduced their U.S. Treasury dollar bond holdings by nearly 50%. What are they doing? Well, they’re working overtime to diminish the world reserve currency status of the U.S. dollar. 

So, here’s President Trump’s response to that one: "I like the dollar. I'm very strong on the dollar. And anybody who wants to deal in dollars, they have an advantage over people that aren't. But for the most part, we're keeping it that way.  Like BRICS. I told anybody that wants to be in BRICS - that's fine. But we're going to put tariffs on your nation. Everybody dropped out. They're all dropping out of BRICS. BRICS was an attack on the dollar."

Pure and simple. Mr. Trump is right. BRICs and China are attacking the dollar. More rogue behavior. 

So, the wisest course right now would be a meeting at the APEC conference in South Korea between Mr. Xi and Mr. Trump. Perhaps then we can get back to lowering trade barriers and promoting prosperity. But if China insists on playing the petulant spoiled brat as they keep losing ground in world politics and influence, then so be it. Count on Donald Trump not to stand for China's bad behavior. They’re going after the wrong guy.