USA Rare Earth plummeted over 7% after markets opened, despite surging in premarket.The broader drop in stock futures comes as both the U.S. and China began levying a tit-for-tat port entry fee on ships from each other’s countries—in a move that could further disrupt supply chains.The US Treasury Secretary Scott Bessent strongly criticized Beijing’s decision to expand export controls on rare earth minerals. Bessent argued the levies were a sign of “how weak” China’s economy was and said: “They want to pull everybody else down with them.” The Treasury Secretary then noted, “They are in the middle of a recession/depression, and they are trying to export their way out of it. Starting Tuesday, Beijing began charging a fee of $56 per net ton on U.S. vessels entering Chinese ports and this will rise every year and reach $157 by April 2028. Chinese authorities have said these levies are a retaliation against the Trump administration’s move to impose a similar fee of $50 per net ton on Chinese ships entering U.S. ports starting Tuesday, which will also rise annually every April and go up to $140 per net ton in 2028. Do you think that China is playing a fair game ?
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