China Defends Rare Earth Export Limits

News: China’s Commerce Ministry condemned the U.S. plan to impose an additional 100% tariff on Chinese imports, calling it a “classic case of double standards.” Beijing said Washington’s actions harm bilateral trade relations and demanded a policy reversal.

The criticism came as China defended its new export controls on rare earth materials, effective October 9, citing national security, non-proliferation, and global stability.

The ministry stressed that the measures aren’t a total export ban and will have minimal impact on global supply chains.

Meanwhile, the U.S. argues the curbs could threaten access to critical minerals vital for defense and semiconductor manufacturing, escalating trade tensions between the world’s two largest economies.

Source: The Economic Times