support@headlinenews360.com
US China Tariff Tensions: After Trump’s tariff, the world’s two economic axis has now reached its peak in commercial relations between America and China. Beijing has taken the most tough steps against Washington so far and stopped the supply of many important and essential items, including magnets, rare earth minerals and metals. This move of China has posed the risk of supply of goods, electronics, vehicle manufacturers, aerospace manufacturers, semiconductor companies and consumer goods to western countries."text-align: justify;"> The Chinese government is drafting a new regulatory system for export. On the one hand, where the policy is being prepared, on the other hand, according to the New York Times, things used from magnets to car and missiles have been stopped at many Chinese ports. According to the report, as soon as the new regulatory system is prepared, after that some certain companies including American military contractors will have permanent ban on supplying goods.
American dependence on Chinese goods & nbsp;
This step to stop export from Beijing is the result of a trade war waged by the US President. China produces about 90 percent of the 17 types of rare Earth minerals of the world, which is used from defense to electric vehicle, energy and electronic industry.
Seven types of medium and heavy rare earth minerals include sorium, Gadilinian, Turbium, Diasporium, Luttium, Scandium and Yattilim relationship, which have been put on the export control list. America has only one rare earth mine, while most of these imports from China.
In response to the recipe on April 2 imposed by the US, Beijing had taken a step to stop the rare earth mineral to respond to 54 percent tariffs imposed on Chinese goods at that time. There are not only mineral metals in export stops, but there are magnets and many such things that will not be easy to replace America.
ALSO READ: Gold Price Today: And gold will shine! Soon the price can go beyond Rs 1 lakh, know what is the reason
Source link
