China has signalled for more than 15 years that it was looking to weaponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise.

Rare earth magnets, which are essential to car manufacturing as well as the defense and home appliance sectors, have started to run short in factories worldwide following China's export restrictions.

At the center of the latest trade storm between the U.S. and China is He Lifeng. Since He became vice premier in early 2023, China's leader Xi Jinping has essentially put him in charge of fortifying the nation’s economy against the effects of U.