as trade war heats up, china threatens clampdown on \"rare earths\"
Chinese state media reported that with a trade war with the United States, China is considering restricting exports of \"rare earths\"S. escalates. Rare earth is a set of 17 elements for all devices from mobile cameras, automotive catalytic converters, to wind turbines and nuclear magnetic resonance imaging machines. Rare earths themselves are not rare, but their distribution in the crust makes processing of rare earths difficult. China dominates global supply of rare earths, accounting for nearly 80% of U. S. exports. S. last year. As trade tensions between Washington and Beijing intensify, Chinese state media hinted on Wednesday that a new card could be played ---restricting U. S. \"Rare Earth\" is a chemical element that is widely used in all fields from mobile phones and other consumer electronics to wind turbines, MRI machines and military hardware. According to U. S. Data, China dominates exports of 17 rare earth elements worldwide, accounting for nearly 80% of U. S. Imports last yearS. Geological Survey (USGS) Merrill Lynch analyst at Bank of America. Other countries supplying rare earths to the United StatesS. It includes Australia, Estonia, France and Japan. Let\'s take a look at what rare earths are and why they can play an important role in the ongoing trade war between the United States. S. and China. Trump\'s derogatory Twitter for climate change documentary in the popular news center, David Ortiz, was discharged from Moscow to protest against rare earths being less rare. The 17 elements defined as rare earths are not as implied by their names- Gold, copper and platinum, for example, are richer and easier to mine. By contrast, rare earths are everywhere in modern life, and the use of rare earths may spread as technology advances. According to the US Geological Survey, ce is the most abundant in compounds used for automotive catalytic converters and is more common in the crust than copper or lead. The glass industry is the largest consumer of rare earths for polishing, color additives and other special optical properties. A rare earth element, including a mobile phone camera, accounting for 50% of the lens of a digital camera. Irina Ivanova/CBS monewatch so where did the name come from? Rare earths do not get their names due to the scarcity of rare earths; Instead, they acquired the label in the 18 th and 19 th centuries because they were relatively insensitive to heat compared to other extracted materials. The concentration of rare earths around the world is so low that it is difficult to extract and refine and is not always found in commercially available quantities. As a result, a small number of countries, including China, Australia, Japan and Malaysia, account for the majority of the mining. China accounts for about 40% of the world\'s rare earth reserves and nearly 80% of the United States. S. According to Bank of America Merrill Lynch, these elements were imported last year. One reason why China is a global leader is- For a long time, it has been extracting rare earths from the ground. It took a century for the country to refine the refining method and extract and refine rare earths in large quantities to keep costs under control. China\'s not-so- Chinese President Xi Jinping visited China last week\'s largest rare The producers of Earth broadcast on China national television. The visit was in the United States. S. Earlier this month, Donald Trump\'s government crackdown on tech giant Huawei was read by experts as the Chinese government is weighing restrictions on rare products --earth exports. China may cut exports of rare earths to the United States. S. China will strive to meet the rare challenges in the world Xinhua, the mouthpiece of Beijing, commented that the needs of the planet are \"as long as they are used for legitimate purposes \". But later it added, \"There are a lot of cards to play in China if necessary. Hu Shijin, editor-in-chief of China\'s Global Times, said on Twitter on Tuesday that China was \"seriously considering restricting rare exports to the United States\"S. JJ Kinahan, chief marketing strategist at TD Ameritrade, said China threatened to use rare earths as a weapon against the United StatesS. is worrisome. \"It shows me that the relationship here is a bit deteriorating,\" he said . \". \"They threw something deep in their bag that would hurt. \"Although China dominates rare earth production, it is unrealistic to ban exports to the United States in an all-round way. S. It may not be good for it. First, cutting off the supply of key materials used in products around the world could undermine Beijing\'s efforts in recent years to play a responsible role on the global stage --- Making it harder to attack the Trump administration\'s tough stance on trade. Meanwhile, China\'s ban may invite other countries to speed up the rare Earth production. The last U. S. Source of rare earth, Yamaguchi quarry, California, closedin 2015. The U. S. May transfer the demand for some metals to Malaysia or re- Starting domestic processing, although this may prove difficult due to regulations designed to prevent large-scale environmental damage. China tariff: How much could your shoes be expensive if China really restricted? Arthur Kroeber, research director and editor at gavekal Economics, said they might choose which elements to target because the country wants to be seen as playing a role in the WTO rulesin- In a conference call with customers this week, China\'s chief economic officer for the quarter. The goal of China is to paint beautiful Chinese paintings. S. He said that as a \"illegal actor\" that undermines economic growth \". \"I really think they have a problem [in] \"None of the options are very good and all of them involve a very high cost in China,\" said Ge Yihao . \". \"So if they do anything, they have to do it very carefully, and I think it\'s very selective. \"The World Trade Organization will disagree, and this is not the first time China has tried to take its dominance in the rare earth sector as part of a trade conflict. China has blocked some rare After a maritime dispute in 2010, the Earth\'s exports to Japan. This has led some countries to look for alternatives- Japan protested to the WTO, which ruled in 2014 that restrictions on rare food Earth exports are illegal. Bank of America analysts pointed out that this also led some companies to reduce the use of rare earths and find a replacement for rare earth elements used in electric vehicle magnets. The Associated Press contributed to the report.