mandag 20. mai 2019

Xi Jinping visits rare earth minerals facility, amid talk of use as weapon in US-China trade war

Chinese President Xi Jinping visited one of the country’s major rare earth mining and processing facilities on Monday, in his first domestic tour since the recent escalation of the US-China trade war.Xi’s visit, reported by the official Xinhua news agency, comes amid growing discussion in China that Beijing could consider banning the export of such minerals as a weapon in the trade war with the United States.

Rare earth minerals were among the few items excluded from the latest US government plans to implement tariffs on almost all of China’s remaining exports to the United States, highlighting their strategic importance. These tariffs, which are set to be levied on Chinese goods worth an estimated US$300 billion, could go into effect as early as July, according to the Office of the US Trade Representative.