Chinese media organizations, including the flagship Communist Party newspaper, strongly hinted Wednesday that Beijing is about to use its dominance of the rare earths market to strike back at the U.S. in the growing trade war. Rare earths, a group of 17 chemical elements, are used to make smartphones and other electronics, military equipment, and electric vehicles, among other goods, and the U.S. relies on China for about 80 percent of its supply. President Trump's administration excluded rare earths from its list of Chinese imports subject to tariffs.
Chinese President Xi Jinping's visits to a rare earths plant with his lead trade negotiator last week sparked speculation that China was getting ready to use its dominance of the rare earths market as leverage in the trade war. The editor in chief of the Communist Party-affiliated Global Times newspaper tweeted that China is "seriously" considering restricting rare earths exports to the U.S., and an official at the state planning agency dropped a similar hint.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Gilbert & George and the Communists: an 'illuminating' look at the 'peculiar' world of the art duoThe Week Recommends The collaborative art pair's journey to Moscow in 1990 is chronicled in this 'excellent' book
-
Alterations: 'riveting' 1970s tailoring comedy is a lot of funThe Week Recommends 'Retro gem' from the National Theatre's Black Plays Archive 'springs into life' from the start
-
Has World Book Day become a 'horror show'?Talking Point Annual event to encourage children to read for pleasure is sore spot for parents under 'growing pressure' to create character costumes
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trade wars, explainedThe Explainer Free trade is almost always good for any economy – so why is it so unpopular?
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
