President Trump responded to Beijing's announcement this week to put new restrictions on exports of rare earths. Trump and President Xi had planned to meet at the end of the month.

Broad restrictions could cause supply interruptions for arms makers, as well as manufacturers in the semiconductor, automotive and other sectors.

Trump accused China of seeking to 'hold the world captive' with new export controls on rare earth minerals, vowing the United States will respond.

As the NBA returns to China, CNBC's Emily Tan caught up with 4-time NBA Champion and former Golden State Warrior Andre Iguodala in Macau and talked about Basketball's huge popularity in the region.