China ready to limit exports of rare earths to US

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China ready to limit exports of rare earths to US

05-06-2019 13:49

China ready to limit exports of rare earths to US

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China ready to limit exports of rare earths to US

According to Global Times Chief Editor Hu Xijin, the Chinese authorities consider reducing exports of rare earths to the US. Experts believe that Beijing may take other countermeasures against Washington in the future.

Escalating tensions between the two countries raised fears that China would use its status of the main supplier of rare earth metals to pressurize the United States in the trade war. The representative of China’s National Development and Reform Commission said that the government would prioritize the country's internal needs. However, China is ready to meet reasonable demand for rare-earth resources from other countries.

Looking back, 80% of US demand for rare earths was met by China in 2014-2017. These metals are used in high-tech consumer electronics and the military industry.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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