The country hit back after the US added 10% tariffs
China announced export controls on tungsten, tellurium, bismuth, molybdenum and indium products on Tuesday in response to the US implementing an additional 10% tariff on Chinese imports.According to China, the export restrictions are to "safeguard national security interests" and are effective immediately. A licence is now required to export the five critical minerals or related products.
Directly after the announcement, China's response seemed mild, unlike that of Canada and Mexico, which immediately prepared a swift response to their 25% tariffs.However, it seems that the country is now prepared to hit back by restricting critical minerals, of which the US is largely dependent on external sources.In 2022, the US had an import reliance of 50% on tungsten, 75% on tellurium, 96% on bismuth, and 100% on indium, according to figures from the US Geological Survey.
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