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china has a rare earths plan ready to go if trade war deepens

by:Newland     2019-10-22
(Bloomberg)--
The Chinese government has prepared a plan to restrict the export of rare earths to the United States. S.
According to people familiar with the matter, if necessary, as both sides of the trade war are working for a protracted dispute.
The government is ready for the steps it will take to use its control over key minerals in a targeted manner to harm the United StatesS.
The people say, economy.
These measures may focus on heavy rare earths.
Materials Group in the United StatesS.
Especially dependent on China.
They said the plan could be implemented once the government decided to continue implementing it, but no further details were given.
A series of threats from state media and officials this week stressed that strategic minerals could be used as a trade weapon.
China produces about 80% of the world\'s total, and the proportion of rare earth elements in its processing forms is higher.
China\'s top economic planner, the National Development and Reform Commission, did not immediately respond to a fax asking for comment on the plan.
Heavy rare earths include rare earth elements, which are used as magnets in almost all cars and many consumer goods.
The group also has y for lighting and flat screen, as well as yb for use in cancer treatment and earthquake monitoring.
Such actions will deepen a confrontation that will disrupt the market and undermine global growth.
A study by Goldman Sachs Group Inc. shows that the impact of any restrictions will be huge and makes it clear that trade tensions are escalating
Beijing will resolutely safeguard national interests and cannot accept that its supply of rare earths has been used to \"crack down on China\'s development,\" Commerce Ministry spokesman Gao Feng said at a press conference on Thursday, china is willing to meet the \"legitimate needs\" of the rest of the world \".
Elements are also in weapons, in large amounts of high
Critical technology applications for the United StatesS. supply chains.
Rare earth is divided into heavy rare earth and light rare earth by atomic weight.
Heavy rare earths are not common and are important in applications such as lasers, sonar and reinforced steel.
According to people familiar with the matter, it is not clear what conditions need to be met to trigger export restrictions, nor how restrictions can be implemented.
In addition, the government is also considering how the US governmentS.
They say they may oppose measures by the World Trade Organization.
A blockade on supplies of rare earth magnets could have a devastating impact on large parts of the United StatesS.
According to Technology Metals Research Co. , Ltd. , the economy.
China accounts for 95% of world output. --
With the help of Dong Liu
Contact Bloomberg news staff to learn about the story: Steven Yang from Beijing at kyang74 @ Bloomberg. net;
Martin Ritchie of Shanghai is at mritchie 14 of Bloomberg.
NetTo contacted the editor in charge of the story: Phoebe seichmann of bloomberg dgman2 @ bloomberg. net, ;
Alexander akwiatkowsk2 Kwiatkowski @ bloomberg ).
For more articles like this, please visit Bloomberg.
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