China, the world’s largest producer of rare earth metals, has made a strategic decision to restrict their exports after the Trump administration imposed new tariffs on the metals. These metals are critical to the production of electric vehicles, military equipment and other high-tech products. According to Bloomberg, China announced the introduction of export controls on seven types of rare earth elements in response to the United States’ tariff policy.
Today, China provides about 70% of the world’s production of rare earth metals, making it a key player in the global market for these strategic resources. The policy of controlling rare earth metals exports has long been considered a geopolitical tool for Beijing, especially given the dependence of other countries, including the United States, on Chinese supplies.
According to Bloomberg, the Chinese authorities have previously taken similar measures on the export of other strategic minerals, such as germanium, gallium, graphite and antimony. The new restrictions do not completely stop exports of these resources, but all foreign supplies will now be subject to more thorough inspection and control.
Export restrictions on rare earth metals have caused outrage and discussion in the international community, as they could significantly affect global supply chains for high-tech products, including mobile phones, computers and other electronic devices. At the same time, China's moves indicate its strategic intentions in global trade and international relations, particularly in the context of trade conflicts with the United States and other countries.
e-finance.com.ua