Trade war deepens as China rejects U.S. demands on rare earths
Trade war deepens as China rejects U.S. demands on rare earths
#rareearth #trade #usa #trump #china
China produces over 90% of the world’s processed rare earths and rare earth magnets.
They are vital materials in products ranging from electric vehicles to aircraft engines and military radars.
On Thursday, China’s Commerce Ministry spokesperson said the U.S. was misrepresenting its policies.
“The U.S. interpretations have grossly distorted and exaggerated China’s measures, and deliberately provoked unnecessary misunderstanding and panic.”
The comments come as U.S. President Donald Trump prepares to meet Chinese President Xi Jinping in South Korea later this month to try to hash out a trade deal.
Trump was asked about the state of the relationship on Wednesday.
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