China has accused the United States of deliberately fuelling global panic over its new rare earth export controls, rejecting U.S. calls to roll them back and denouncing comments from senior American officials as “grossly distorted.”Commerce Ministry spokesperson He Yongqian said Washington had exaggerated Beijing’s policy shift, insisting the measures were consistent with international norms and that compliant, civilian-use exports would still be approved.The new licensing regime, taking effect November 8, has unsettled global supply chains amid confusion over its scope. The People’s Daily published a seven-point rebuttal, accusing the U.S. of hypocrisy for maintaining its own control list of more than 3,000 items.The dispute escalated after Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer accused Beijing of a “global supply-chain power grab.” China condemned Bessent’s personal attack on trade envoy Li Chenggang and urged Washington to “correct its wrongdoings.”While both sides have avoided new tariffs, the renewed war of words threatens to strain Trump–Xi relations ahead of their planned meeting in South Korea later this month. This article was written by Eamonn Sheridan at investinglive.com.