Rare Earth Elements pulled the gun in the Chinese trade war – Cyprus Newspaper
The US announced 34 percent customs duty to China. China put 34 percent tax on the US. The US increased the tax on China to 104 percent against it. China also obliged state permission to export rare land elements.
Rare metals are critical in sectors such as defense industry, electronic and renewable energy, while it is used extensively in mobile phones and electric vehicles.
China has opened a new front in trade wars, restricting the exports of some rare land elements.
Cin’s rare earth element move caused question marks on how high -tech products can affect the global procurement.
It is estimated that China’s rare soil element export restrictions can also put global chip production supply into trouble.
Uncertainty in the course of global trade
While the tariff restorations between the US and its commercial partners continue, this leads to uncertainties about the course of global trade.
US President Donald Trump’s “reciprocity -based” tariffs after China’s rare land elements against the US’s mutual tariff increase, the restriction of exports of the export of trade wars agreed.
China will take rare elements to the export checklist
The Chinese Ministry of Commerce, Samarium, Gadolinium, Training, Dysprosium, Lütessium, Scandyum, itrium and alloys in 7 categories of moderate and heavy rare metals will be included in the export check list as of April 4.
Rare Earth Element Export will be dependent on permission
In this context, Chinese suppliers will be able to export these rare land elements only with the government permission.
On the other hand, Chinese customs officials will be able to confiscate the suspected shipments that have been restricted.
Global chip production supply can also be in trouble
These elements, from which the country’s global supply provide a large part of the country, are used in high performance engines, nuclear reactors to electronic and optical equipment, spacecraft to medical imaging machines, battery and fuel cells to semiconductor and super conductors.
17 Group, which has a great share in the production of rare land elements, has once demonstrated the intention of converting its global domination in this field to an economic cocoon with its export restriction.
First customs duty, then the decision to connect exports to leave
This step of the country, President Donald Trump in the United States in the scope of reciprocity -based tariffs will bring an additional 34 percent customs tariff to China announced.
While China has opened a new front in trade wars by restricting the exports of some rare land elements, this has caused question marks on how high -tech products can affect the global supply.
Important metals such as Samarium, gadolinium, my manners, dysprosium, lutsyium, scandyum and itrium are critical in defense industry, electronic and renewable energy.
