Beijing
The trade war between the US and China has deepened the two major economies of the world. After US President Donald Trump imposed a 245 per cent tariff, China first refused to buy American Boeing aircraft and has now stopped supply of rare minerals to America. Customs data show that all supply of rare minerals exported to the US has been almost stopped. This reply of American tariff war by China has increased pressure on American manufacturers as they all depended on Chinese goods.
A report by the South China Morning Post states that China has declined by about 44 percent of the exports of metal tailurium used in large -scale metal tailuriums in the manufacture of solar panels and thermoelectric devices. Tungsten rod shipment has declined by nearly 84 percent, while other minerals have fallen by 77 percent in Tungson’s exports. According to customs data, shipments have been completely stopped for some product categories, including molibdenum powder, bismath products and other three categories of tungsten materials. Since the US imposed tariffs on China in February, China started banning the export of Tungsten, Bismath, Teluium, Indium and Molibdenum. According to Chinese rules, exporters have to get the approval of the government before sending these minerals abroad. But after the growing trade war with the US, the Chinese government has banned these rules. China is trying to increase the pressure on the US by making such a ban so that it can reduce the tariff of 245 per cent.
Three big industry in crisis
The major decrease in ban and supply on the export of these minerals is not only under pressure from the US and industry, but also companies ranging from smartphone -making companies to state -of -the -art military equipment. Indeed, China has a monopoly on rare minerals used in these companies and manufacturing industry and China on refinement and processing. That is why China has first put a brake on the supply of these minerals to respond to the US.
86 percent reduction in Ittrium supply
Statistics show that in March, China has reduced another mineral substance itatium supply to the US by 86 per cent. Similarly, the export of scadium has been cut by two -thirds. Let us know that China holds 83 per cent in Tungson’s total global production, 81 per cent in Bisamath, 75 per cent in Teluium, 70 per cent in indium and 42 per cent in molybdenum. These mineral elements are used in aerospace and defense sector.