India, Oct. 12 -- Beijing's announcement of sweeping new export controls on rare earths and other vital materials crucial to the US defence and technology sectors, last week, indicates that US President Donald Trump's attempts to achieve one-on-one deals with allies and rivals alike could be backfiring.

The development exposed the weakness of Trump's strategy -long touted as his hallmark of dealmaking prowess-as the fragile truce with China teeters on collapse.

China's Ministry of Commerce announced the curbs on Wednesday night, New York time.

The announcement sent major US stock indexes tumbling throughout the day, according to a Bloomberg report.

He also revealed plans to introduce export controls on critical software.

The renewed ...