Trade tensions between Washington and Beijing are flaring again. A quiet rule change by the US Bureau of Industry and Security has widened Washington’s trade blacklist, prompting Beijing to tighten its export controls on rare earths — critical materials for everything from smartphones to fighter jets. The back-and-forth has rattled markets, and raised questions about how far this standoff could go.

Jeep Kline, Founder and Managing Partner at Raisewell Ventures, joins the Breakfast Show to unpack what’s driving this escalation, how it’s reshaping global supply chains and investment flows, and what it means for Asia’s role in the shifting trade landscape.

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