Treasury Secretary Scott Bessent has pointed fingers at China for imposing export controls on rare earths and critical minerals, calling it a deliberate effort to sabotage the global economy amid their own economic struggles.
These restrictions target materials essential for advanced technology, including U.S. military applications like the F-35 fighter jets, Tomahawk missiles, and precision-guided bombs. China’s decision marks the first time they’ve explicitly blocked exports for military purposes, escalating tensions right before a planned summit between President Donald Trump and Chinese leader Xi Jinping.
Bessent didn’t mince words in his Financial Times interview: “To pull everyone else down with them.”
The timing couldn’t be worse for markets, which have turned shaky since the spat intensified. Wall Street opened lower on Tuesday, reflecting investor jitters over the fallout.
President Trump fired back with a promise of 100% tariffs on Chinese imports effective November 1, and he’s even floated scrapping the Xi meeting altogether. This kind of bold stance protects American industries from unfair practices that could erode our economic edge.
Bessent tied China’s actions to their internal woes: “They are in the middle of a recession/depression, and they are trying to export their way out of it. The problem is they’re exacerbating their standing in the world.”
He also warned about the boomerang effect: “If they want to slow down the global economy, they will be hurt the most.”
For American workers and businesses, this episode serves as a stark reminder of the risks in relying on foreign adversaries for vital resources. Building up domestic production and diversifying supply chains could shield the U.S. economy from such manipulative tactics, ensuring long-term growth and security.
Why the National Debt Is the Looming Threat to Your Retirement Plans
The Hidden Crisis No One Is Talking About
Every day, headlines warn about inflation, market volatility, and global instability—but the greatest looming threat to your retirement might be something far more fundamental: America’s skyrocketing national debt.
You can learn more about how the national debt affects you by reading this 3-minute report titled, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now“.
With debt growing faster than most Americans can possibly fathom, the government’s borrowing habits have reached historic—and dangerous—levels. To cover spending, Washington is making moves with their budget packages, tariffs, and taxes. Is it enough? No. It’s not even close to what would be necessary to stop out-of-control debt, let alone reverse it.
How Debt Erodes Your Nest Egg
There are only so many levers government and the Federal Reserve can pull to try to protect Americans, assuming that’s even a top priority for them. Unfortunately, pulling one level to relive one pressure invariably adds pressure from another direction. This is why prices keep going up even as inflation reportedly slows.
For retirees and pre-retirees, that’s a perfect storm. The dollars you’ve worked hard to save lose value, and your cost of living increases while your investments lag behind.
If you’re relying solely on paper-based assets—stocks, bonds, or mutual funds—you’re essentially tied to the same system that’s creating the problem. It’s a system that was designed to work well in the 20th century, not in today’s world with people living longer and the dollar rapidly losing value.
This is why the 3-minute report, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now,” is so important.
The Precious Metals Hedge
Thousands of Americans are looking for a tangible, time-tested hedge: physical gold and silver.
Unlike paper assets, precious metals aren’t dependent on government policy or the stock market’s mood swings. They’re real, finite resources that have maintained value for thousands of years through wars, recessions, and inflationary periods.
In fact, during times of high inflation and fiscal instability, gold often performs its best—because it’s seen as a store of value when faith in the dollar weakens. This is why prices have skyrocketed this year and are expected by many economists to continue going up in the future.
Take Control with a Gold IRA
One of the most effective ways to protect your retirement from national debt fallout is through a self-directed Gold IRA. This IRS-approved account lets you hold physical gold and silver within your retirement portfolio, giving you:
- Direct ownership of your assets
- A hedge against inflation and dollar decline
- The control to diversify beyond Wall Street
Augusta Precious Metals specializes in helping Americans just like you take this step with confidence. The company has earned a strong reputation for transparency, education, and personalized service—making it one of the most trusted names in the industry.
The Next Step: Secure Your Financial Future
Augusta Precious Metals has helped thousands of Americans with at least $50,000 to invest from their IRAs, 401(K)s, TSPs, and other retirement accounts safeguard their savings through precious metals.
If you’re concerned about what the rising national debt could mean for your future, now is the time to act.
Read this 3-minute report titled, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now“ and learn the simple steps you can take to protect your retirement.