China has suspended rare earth exports in retaliation to President Trump’s recent tariff hikes, The New York Times reported.
The Chinese government is drafting a new regulatory system for exports, and while the policies are being framed, the shipments of the magnets, essential for the manufacturing of almost everything ranging from cars to missiles, have been halted at many Chinese ports, according to the report.
On April 4, China imposed new restrictions on the export of six heavy rare earth elements—metals that are refined exclusively in China—as well as rare earth magnets.
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Source: https://seekingalpha.com/news/4430682-china-suspends-rare-earth-exports-as-trade-war-with-us-escalates—report
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