#USChinaTensions

The Trade War Continues

The trade war between Washington and Beijing has reached the next level: China has stopped exporting critical minerals needed for everyday technology.

There are no exports to the US.

The New York Times writes that China has halted the shipment of rare earth minerals to the United States while the Beijing government develops a new regulatory system.

China's Rare Earth Monopoly

These restrictions include six types of rare earth metals that are refined exclusively in China, as well as rare earth magnets, 90% of which are produced in China.

Many Industries Will Be Affected

According to The New York Times, the suspension of these exports affects automakers, aerospace manufacturers, semiconductor companies, and military contractors.

A Response to Tariffs

The New York Times highlights that Beijing's decision is a response to the Trump administration's increasing tariffs on Chinese products.