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What strategic minerals has China restricted in its exports?
China added several rare earth elements to the export control list of China on Friday. Its retaliation The prospect of the U.S. being cut off from vital minerals, whose supply is controlled by China, has been raised in response to President Donald Trump's proposed tariff package. The ban on certain items Seven elements of the universe This is just the latest example of China's ability weaponize its dominance of the mining and processing a variety of minerals that are vital for everything from smartphones, electric car batteries and infrared ammunition to smartphones. Western companies have been forced to adapt their business practices due to these restrictions After Friday's announcement, supply chains are likely to gain new momentum. Beijing has restricted the use of some other minerals since 2023. TUNGSTEN, INDIUM, BISMUTH, TELLURIUM AND MOLYBDENUM China has imposed export restrictions on Five metals Early February, just after President Donald Trump's first 10% tariff was implemented on Chinese products, many industries, including defence, clean energy, and others, began to use the technology. Export licences are required for 20 products relating to tungsten, molybdenum, tellurium and bismuth. The curbs did not go as far as outright bans. They were more targeted and limited to certain metals like molybdenum. BATTERY AND LITHIUM PROCESSING ADVANCED TECHNOLOGY China proposed in January to restrict exports of certain technology used to manufacture cutting-edge components for batteries and to process lithium and gallium, two critical minerals. The announcement didn't specify when the proposed amendments, which were available for public comments until early February this year, might come into effect. Since the proposal was made, at least one company stopped exporting the products listed. ANTIMONY, GALLIUM, GERMANIUM Last December, Beijing Washington has stepped up its crackdown on China’s chip industry. As a result, Washington banned the export of three crucial minerals to the United States. China has gradually introduced export licensing for the three metals over the past 18 months, but the outright ban is only applicable to the United States. Exports of antimony, which is a strategic metal that's used in solar power equipment, munitions and flame retardants, had only just resumed three months after the export licenses were implemented. China controls the global supply of these three metals, and mines and refines up to 90% of the minerals. RARE EARTHS MAGNIFIER TECHNOLOGY By December 2023, China will ban the export of technology for making rare earth magnets. This ban is in addition to the existing one on the technology used to separate and extract the critical materials. Rare earths is a grouping of 17 metals which are used to produce magnets for electric vehicles, windmills, and electronic devices. While common in the earth's crust, China has mastered the technically difficult and environmentally-harmful refining process. China produces 90% of the world's refined products. GRAPHITE By October 2023, China will require export licenses for certain graphite products in order to protect its national security. China is the top producer and exporter of graphite in the world. It also refines over 90% of all graphite to a material used in almost all EV batteries.
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China retaliates against US tariffs by imposing export controls on rare earths
China placed export restrictions on rare earth elements as part of its response to President Donald Trump’s tariff package. This could cut off the U.S. from vital minerals essential to everything from electric car batteries to smartphones. China produces 90% of the world’s refined rare earths. This group of 17 elements is used in the electronics, defense, electric vehicles, and clean energy industries. Most of the rare earths imported by the United States come from China. According to a Ministry of Commerce press release, seven categories of medium and heavier rare earths including samarium and related items such as gadolinium and terbium will be added to an export control list on April 4. This latest move by China to weaponise their dominance in the mining and processing critical minerals, affects all countries not just the U.S. Beijing has already banned the export of metals to the U.S., and placed export controls on a number of other products. Jacob Gunter, an analyst at the Mercator Institute for China Studies, believes that Friday's decision will likely galvanize efforts to create alternative supply chains in the West. "The more China uses this trigger even if the United States is the only country affected, the more European companies, European governments, and other countries will also consider the risks of having export controls placed on them." Beijing announced these controls late Friday night as part of an broader package that included tariffs and restrictions on companies in response to U.S. president Donald Trump's decision of raising tariffs to 54% against most Chinese goods. According to the U.S. Geological Survey, between 2019 and 2022 about three-quarters of rare earths imported by the U.S. came from China. Beijing can limit shipments even though the export controls do not constitute a ban by limiting the number of export licenses that it issues. China has not exported antimony to European Union nations since March, after export controls were imposed on the metal in September. China controls the mining and production of rare earths, despite the fact that they are common in the earth crust. It does this by imposing a strict quota system. Reporting by Amy Lv in Beijing and Lewis Jackson; Editing by Elaine Hardcastle, Jan Harvey
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China's retaliation against Trump tariffs is a blow to tech and bank stocks
U.S. banks, oil companies, and tech giants all extended their losses on Friday, after Beijing responded with an additional 34% duty on U.S. products. This heightened investor concern over a escalating trade war, which has led to fears of a global recession. Beijing's tariffs will go into effect on April 10. Beijing also announced restrictions on the export of heavy and medium rare-earths and added 11 U.S. companies to its "unreliable entities" list. Tesla and Apple, two of the companies that have the most revenue exposure to China, both saw their shares plummet by more than 6%. Alphabet and Microsoft also saw their shares fall sharply. Following the countermeasures, shares of banks continued to decline. Fears have been affecting the industry that a dispute over trade could reduce consumer confidence, lower spending, weaken demand for loans and increase fees charged by advisors. JPMorgan Chase, which is the largest U.S. Bank by assets, fell 7.3%. Wall Street giants Goldman Sachs, Morgan Stanley and Citigroup all fell by 7% or 6% respectively. Crude oil prices have suffered further losses, after already being hit by the expected OPEC+oil production increase in May. Exxon dropped 4.8% while Chevron fell 4%. SLB, the top oilfield services company, dropped 5.8%. Marathon Petroleum, the largest U.S. refining company by volume, also fell 4.6%. The tariffs imposed by China, which is a major oil-importer, could increase concerns about a slowdown in fuel demand. "The trade conflict escalated, fears of recession are on the rise, and as a result, oil demand growth will take a significant hit," said Tamas Variga, an analyst at PVM. GE Healthcare shares fell 6.9% in premarket trading, the largest drop among medical equipment makers. This was after China announced restrictions on exports of a rare earth metal used in MRI scanners. Ford and General Motors shares in Detroit were down by about 3.6% and 3%, respectively. The automakers rely on a global supply chain that is complex. GM and Ford, meanwhile, see China as a major growth market for electric vehicles.
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What strategic minerals has China restricted exports of?
China put several rare earths on an export list on Friday in retaliation to President Donald Trump’s Tariff package The U.S. may be cut off from vital minerals, whose supply is dominated by China. The latest example of China's ability weaponise their dominance over the mining and processing a variety of vital minerals that are essential for everything from smartphones, electric car batteries and infrared ammunition to infrared weapons and ammunition is the ban on seven-element items. Western companies have been forced to adapt their business practices due to these restrictions After Friday's announcement, supply chains are likely to gain new momentum. Beijing has restricted the use of some other minerals since 2023. TUNGSTEN, INDIUM, BISMUTH, TELLURIUM AND MOLYBDENUM China has imposed export restrictions on Five metals Early February, just after President Donald Trump's first 10% tariff was implemented on Chinese products, many industries, including defence, clean energy, and others, began to use the technology. Export licences are required for 20 products relating to tungsten, molybdenum, tellurium and bismuth. The curbs did not go as far as outright bans. They were more targeted and limited to certain metals like molybdenum. BATTERY AND LITHIUM PROCESSING ADVANCED TECHNOLOGY China proposed in January to restrict exports of certain technology used to manufacture cutting-edge components for batteries and to process lithium and gallium, two critical minerals. The announcement didn't specify when the proposed amendments, which were available for public comments until early February this year, might come into effect. Since the proposal was made, at least one company stopped exporting the products listed. ANTIMONY, GALLIUM, GERMANIUM Last December, Beijing Washington has stepped up its crackdown on China’s chip industry. As a result, Washington banned the export of three crucial minerals to the United States. China has gradually introduced export licensing for the three metals over the past 18 months, but the outright ban is only applicable to the United States. Exports of antimony, which is a strategic metal that's used in solar power equipment, munitions and flame retardants, had only just resumed three months after the export licenses were implemented. China controls the global supply of these three metals, and mines and refines up to 90% of the minerals. RARE EARTHS MAGNIFIER TECHNOLOGY By December 2023, China will ban the export of technology for making rare earth magnets. This ban is in addition to the existing one on the technology used to separate and extract the critical materials. Rare earths is a grouping of 17 metals which are used to produce magnets for electric vehicles, windmills and electronic devices. While common in the earth's crust, China has mastered the technically difficult and environmentally-harmful refining process. China produces 90% of the world's refined products. GRAPHITE By October 2023, China will require export licenses for certain graphite products in order to protect its national security. China is the top producer and exporter of graphite in the world. It also refines over 90% of all graphite to a material used in almost all EV batteries.
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China retaliates against US tariffs by imposing export controls on rare earths
China has placed export restrictions on rare earth elements as part of the response to President Donald Trump’s tariff package. This could cut off the U.S. from vital minerals used in everything from smartphones and electric car batteries to solar panels. China produces 90% of the world’s refined rare earths. This group of 17 elements is used in the electronics, defense, electric vehicles, and clean energy industries. Most of the rare earths that are imported by the United States come from China. According to a Ministry of Commerce press release, seven categories of medium and heavier rare earths, including samarium and related items such as gadolinium and terbium will be added to an export control list on April 4. This latest move by China to weaponize its dominance in the mining and processing critical minerals, affects all countries, including the U.S. Beijing announced the controls on Friday evening as part of an broader package that included tariffs and restrictions for companies in response to President Donald Trump's decision of raising tariffs to 54% against most Chinese goods. According to the U.S. Geological Survey, between 2019 and 2020, roughly three-quarters of rare earths imported by the U.S. came from China. Beijing can limit shipments even though the export controls do not constitute a ban by limiting the number of export licenses that it issues. China has not exported antimony to European Union nations since March, after export controls were imposed on the metal in September. China controls the mining and production of uranium, which is common in earth's crusts. It also dominates the dirty and complex refining processes. Reporting by Amy Lv in Beijing and Lewis Jackson; Editing by Elaine Hardcastle
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US tariffs to cripple India’s diamond industry, affecting jobs and exports
Surat's diamond polishing centre is experiencing a wave of anxiety as the U.S. Tariffs threaten the gem and jewellery exports of India, putting the livelihoods of tens of thousands workers at risk. The United States, who takes over 30% of South Asia's gems and jewellery exports set a reciprocal tariff of 27% on it on Friday, as demand in other important markets, such as China and the Middle East and Europe, is easing. Dinesh Nadiya is the chairman of Indian Diamond Institute in Surat. He said that tariffs would have a major impact on the demand for diamonds. Job losses are likely to occur, at least over the short-term. Surat, Gujarat's second largest city, is the home of Narendra Modi. It processes and polishes 80% of all rough diamonds in the world. India accounts for 9 out of 10 diamonds that are processed worldwide. The diamond market has come to a standstill, with more than 10,000 traders and broker gathering each day to try to determine how the situation will develop in the next few months. Mansukh Mangukiya has been a diamond dealer for over 50 years. He said that the current conditions are even worse than the financial crisis of 2008. Sevanti Shah of Venus Jewels said that smaller manufacturers would be the most affected by a slowdown. "Many will have to close down." In fiscal year 2023/24, India exported gems and jewelry worth $32 billion to the United States, which amounted to nearly $10 billion or 30.4% of that total. Third largest export to U.S. India exports gems and jewellery to the United States in third place after electronic and engineering goods. This sector employs millions of people, including artisans. The Surat Diamond Bourse was inaugurated in 2023 by Modi to create thousands of jobs and act as a hub for trade. However, the business outlook is not good. It was billed as the largest office building in the world, surpassing even the Pentagon. Diamond dealers stated that the industry would seek to find alternative markets in order to compensate for the lost demand from the U.S. Shaunak Parikh said that the sudden drop in demand for rough diamonds could result in a reduction of imports. Parikh stated that exporters are trying to get as much cargo to the United States as they can before the new tariffs go into effect. Orders that cannot be delivered sooner may be cancelled, or put on hold. Vipul Shah said that the tariffs will also increase U.S. diamond prices and crimp demand. Chetan Navadiya is facing an uncertain future as a diamond producer turned contractor. Navadiya stated, "I lost my company due to the slowdown in the market." "I had to take on job work in order to survive. But even these contracts may not arrive by now because of U.S. tariffs."
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Iraq invites meeting to resume discussions on Kurdistan Regional Oil Exports
The state news agency reported that the Iraqi Oil Ministry requested an urgent meeting on Friday with the relevant parties in order to resume negotiations regarding the export of Kurdistan Regional Oil. Iraq's Oil Ministry also stated that it had taken serious measures to demonstrate goodwill in the negotiations to ensure a resumption exports. It added that unrealistic demands outside of legal frameworks hindered reaching a final deal. The Ministry said that it was working to ensure the proper implementation of amendments to the budget laws approved on February 2 so that exports via Iraq-Turkey can resume as quickly as possible. The report said that a deal on Kurdistan crude oil exports was crucial for stopping illegal and inappropriate crude sales. Washington has been pressing Iraq to resume the flow of shipments. In February, it was reported that President Donald Trump's administration asked Iraq to allow this to happen or face sanctions. APIKUR is a grouping eight oil companies operating in Iraqi Kurdistan. In a joint statement, APIKUR said it would not resume its exports until Baghdad made a firm commitment that they will honour their existing contracts and guarantee payment for both past and future exports. (Reporting and editing by Tala Ramadan, Jana Choukeir and David Evans).
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China responds to global trade war by imposing sweeping tariffs on U.S. products
China announced an additional 34% tariff on U.S. products on Friday. This is the most significant escalation of a trade conflict with President Donald Trump, which has fueled fears of a worldwide recession and caused a stock market crash. Beijing announced that it had added several U.S. companies to an export control listing and classified others as "unreliable". From Canada to China, nations have prepared retaliation as a trade war escalates after Trump raised U.S. Tariff Barriers to their highest levels in over a century. This led to a drop in the world financial markets. Shigeru Shiba, the Prime Minister of Japan, which is one of the top trading partners with United States, said that tariffs created a national crisis. A plunge in bank shares on Friday sent Tokyo's stock exchange on its way to a worst week for years. JP Morgan, an investment bank, said that it now expects the global economy to enter recession by year's end. This is up from 40%.
Israel states senior Hezbollah official probably dead, Hezbollah backs truce efforts
Hezbollah left the door open to a worked out ceasefire on Tuesday after Israeli forces made new attacks in Lebanon, and Israel's defence minister said another senior authorities from the Iranbacked group appeared to have actually been eliminated.
In what might be the latest in a series of major blows to Hezbollah, Israeli Defence Minister Yoav Gallant stated it appeared the replacement for slain Hezbollah leader Sayyed Hassan Nasrallah had actually been gotten rid of.
Hashem Safieddine, a top Hezbollah official, was commonly expected to succeed Nasrallah. Safieddine has actually not been heard from openly given that an Israeli airstrike late last week.
Hezbollah is an organization without a head. Nasrallah was eliminated, his replacement was probably likewise gotten rid of, Gallant informed officers at the Israeli armed force's northern command centre, in a short video segment dispersed by the military.
There's no one to make decisions, nobody to act, he stated, without providing more details.
In a televised speech, Hezbollah deputy leader Naim Qassem, stated he supported attempts to protect a truce, and for the first time did not discuss completion of war in Gaza as a pre-condition to halting combat on the Lebanon-Israel border.
Qassem stated Hezbollah supported efforts by Speaker of Parliament Nabih Berri, a Hezbollah ally, to protect a stop to fighting, which has escalated in recent weeks with the Israeli ground incursions and the killing of leading Hezbollah leaders.
We support the political activity being led by Berri under the title of a ceasefire, Qassem stated in his 30-minute telecasted address.
It was not clear whether this signified any modification in stance, after a year in which the group has stated it is battling in assistance of the Palestinians throughout the Israel-Hamas war in Gaza, and would not stop without a ceasefire there.
Speaking in front of drapes from an undisclosed location, Qassem said the dispute with Israel was a war about who cries first, and Hezbollah would not weep initially. The group's. capabilities were intact despite unpleasant blows from Israel.
We are striking them. We are hurting them and we will. extend the time. Dozens of cities are within range of the. resistance's missiles. We ensure you that our capabilities are. fine, stated Qassem.
His telecasted address comes 11 days after the killing of. Nasrallah, the most devastating obstacle Israel has actually dealt its foe. in years. Qassem stated the group would elect a new secretary. basic and reveal it once it has actually been done.
Israel maintained the pressure on Hezbollah on Tuesday by. killing another one of its senior figures and introducing new. operations in southern Lebanon.
Qassem stated Israel had yet to advance after ground clashes. that broke out in south Lebanon a week back.
In any case, after the concern of a ceasefire takes shape,. and as soon as diplomacy can attain it, all of the other information can. be gone over and decisions can be taken, Qassem stated.
If the enemy (Israel) continues its war, then the. battlefield will choose.
The regional tensions triggered a year earlier by Palestinian. armed group Hamas' attack on southern Israel have spiralled in. current weeks into a series of Israeli operations by land and air. against Lebanon. On Oct. 1, Iran, sponsor of both Hezbollah and. Hamas, fired missiles at Israel.
CAUTION FROM IRAN
Iran warned Israel on Tuesday versus any retliatory. attacks. Foreign Minister Abbas Araqchi said any attack on. Iran's facilities will be met with retaliation.
Araqchi will check out Saudi Arabia and other countries in the. Middle East beginning on Tuesday. In a video on state media he. said the goal of his trip was go over ways to prevent the. shameless criminal offenses of the Zionist regime in Lebanon in. continuation of the criminal offenses in Gaza.
Sources have actually told Reuters that Gulf Arab states have looked for. to assure Tehran of their neutrality in the conflict.
On the ground, the location of Israeli operations in Lebanon has. been expanding. The Israeli armed force said it was carrying out. minimal, localised, targeted operations in Lebanon's. southwest, having actually previously revealed such operations in the. southeast. A World Food Programme official voiced issue about. Lebanon's food supply, saying thousands of hectares of farmland. throughout the country's south has actually burned or been abandoned.
Agriculture-wise, food production-wise, (there is). extraordinary concern for Lebanon's capability to continue to feed. itself, Matthew Hollingworth, WFP country director in Lebanon,. told a Geneva press briefing, adding that harvests will not. happen and produce is decomposing in fields.
World Health Company main Ian Clarke in Beirut informed. the same instruction that there was a much higher threat of illness. break outs among Lebanon's displaced population.
Israel's military struck Beirut's southern suburbs overnight. again and said it had actually killed a figure responsible for. Hezbollah's budgeting and logistics, Suhail Hussein Husseini, in. what would be the latest in a string of Israeli assassinations. of leaders and leaders of Hezbollah and Hamas.
Numerous Israelis have regained confidence in their long-vaunted. military and intelligence after deadly blows in current weeks to. the command structure of Hezbollah.
The scenario in Lebanon is worsening day by day, the. European Union's foreign policy chief, Josep Borrell, informed the. European Parliament, calling for a ceasefire. Some 20% of the. Lebanese population had been forced to move, he said.
(source: Reuters)