#TrumpTariffs #USChinaTradeTalks
China’s exports of rare earths (a group of 17 minerals at the centre of a trade dispute with Washington) rose 23% in May from a month earlier, according to customs data released on Monday, reported Bloomberg.
This increase comes two months after Beijing suspended exports of a wide range of rare earths and related magnets, underscoring China's dominance in the global critical minerals industry with an aim to counter the US in the ongoing trade war with President Donald Trump.
Rare earth shipments increase
China exported 5,865 tons of rare earths in May. Although total shipments so far this year remain below 2024 levels, last month's jump helped push the year-to-date figure 2.3% higher to 24,827 tons.
The data compiled by Bloomberg does not include rare earth products, which include high-value magnets for electric motors and hard disk drives.
Agenda of the trade talk:
US and Chinese officials are set to meet in London this week as the world’s two biggest economies seek to diffuse tensions over tariffs and export restrictions, reported Bloomberg.
Rare earths are expected to top the agenda in the meeting among a list of grievances, which include China’s export controls on rare earth minerals and magnets, which are used widely in high-tech and defence manufacturing.
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