In retaliation for President Donald Trump’s new tariffs on imports, China has applied an export tourniquet to key elements of high-tech industries: rare earth elements.
As the New York Times reported: “The Chinese government ordered restrictions on the export of six heavy rare earth metals, which are refined entirely in China, as well as rare earth magnets, 90 percent of which are produced in China. The metals, and special magnets made with them, can now be shipped out of China only with special export licenses.”
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