"As usual," Simon Tisdall notes, "Trump has no plan, no idea what he's doing. Not so Xi."

China's drastically expanded global export controls on rare-earth minerals and magnets, over which it exercises a near monopoly, are the deliberately damaging act of a hostile power.

These materials are essential for manufacturing most electronic devices, including phones and cars. The security implications are alarming. Rare-earth products are used in cruise missiles, combat jets, nuclear submarines, drones and other modern weapons systems. China's new rules will prohibit their use for any military purpose. Governments are scrambling to find alternative supplies. This embargo, if enforced next month, potentially compromises western arms supplies to Ukraine and defences against Russia, Beijing's ally.

China also intends to control use of these materials by overseas-based manufacturers and supply chains. The US has asserted similar extraterritorial jurisdiction since 1959. Now Beijing is playing Washington at its own imperious game " and weaponising trade for political purposes. Trump blew a fuse when the measures were announced, threatening 100% tariffs and cancellation of his planned meeting with Xi. Amid market panic, he backed off. But tit-for-tat trade penalties continue, stoking fears of global economic downturn.