China dominates the global processing of rare earths – essential in everything from everyday electronics to fighter jets. The latest move came as Beijing broadened its leverage in trade talks with the United States and ahead of an expected meeting between Chinese leader Xi Jinping and President Donald Trump on the sidelines of the APEC summit in South Korea later this month.
Under the new rules, Beijing further asserts its dominance in the sector by adding five rare-earth elements, including holmium, erbium, thulium, europium, ytterbium, and related magnets and materials, to its existing control list, requiring export licenses. The announcement on Thursday brought the total number of restricted elements to 12, out of the 17 types of rare earths.
