The National Development and Reform Commission, which oversees
Read more:Europe is beginning to suffer from the trade war: the EU trade deficit has more than doubled in the last 12 months "There are no winners in the trade war ," the Commission added. US and Chinese negotiators Hu Xijin, editor-in-chief of the state-owned nationalist tabloid Global Times,also tweeted Tuesday night: "Based on what I know, China is seriously considering restricting rare earth exports to the United States. China may also take other steps." countermeasures in the future. The Global Times suggested last week that Xi's visit to the rare earths factory "has been widely seen as a form of leverage for China in the trade war with the United States." Stocks of Chinese rare earth companies have soared since Xi's visit.
Rare earths, clockwise from top center: praseodymium, cerium, lanthanum, neodymium, samarium, and gadolinium. Rare earths, clockwise from top center: praseodymium, cerium, lanthanum, neodymium, samarium, and gadolinium. The SW Business Directory United States and China have slapped billions of dollars worth of tariffs on each other's products since March 2018. Washington raised tariffs from 10% to 25% on $200 billion worth of Chinese goods on May 10, and Beijing said three days later that it would raise tariffs on $60 billion worth of U.S. goods starting May 1. June.
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Hours later, the United States drew up a list of possible tariffs on another $300 billion in goods. Read more:This is what has happened in more than a year of trade war between the US and China The United States does not include rare earth materials on either list of tariff targets, illustrating its dependence on China for them. Global stocks fell on Wednesday as traders prepared for a new escalation in the trade war. But Ryan Castilloux, managing director of rare earths consultancy Adamas Intelligence, tweeted on Wednesday that there was "still a low probability" that China will limit the export of rare earths to the United States, "as it would quickly (and painfully) escalate to an eye for an eye."
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