This dramatic increase follows China’s recent decision to halt exports of critical rare earth metals and minerals, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, on April 13th.
This export restriction came after China had already banned exports of gallium, germanium, and antimony, all materials vital to various industries, including military applications, to the United States. The U.S. relies heavily on China for these rare earth elements, as China controls approximately 90% of the world’s supply, which are essential for manufacturing automobiles, aerospace components, semiconductors, and defense equipment.
President Trump’s executive order, which initiated an investigation into the national security risks associated with U.S. dependence on imported critical minerals.
In response to these developments, Chinese Foreign Ministry Spokesperson Lin Jian stated on Wednesday, “China has repeatedly stated its solemn position on the issue of tariffs. This tariff war was initiated by the U.S., and China’s necessary countermeasures are entirely reasonable and legitimate, taken to safeguard its legitimate rights and interests and international fairness and justice.”
“There are no winners in a tariff war or trade war. China does not want to fight, but it is absolutely not afraid to fight.”
