China appears to make veiled threat about rare earth minerals crucial to US technology industry

"You suggested that rare earths could become one of China's countermeasures against the U.S.'s unwarranted suppression...What can I tell you is that if anyone were to use products that are made with the rare earths that we export to curb the development of China, then the people of [south Jiangxi province where rare earths are mined] as well as all the rest of the Chinese people would be unhappy," said the Chinese official, in an interview.

Rare earth imports are a relatively small part of the $420 billion U.S. goods deficit with China, but their worth far outstrips their dollar value. The materials are critical in the creation of such things as iPhones, electric vehicles and advanced precision weapons.also reported Tuesday that China is "seriously considering" limiting rare earth exports to the United States. "Based on what I know, China is seriously considering restricting rare earth exports to the U.S.

"This is still not official. The U.S. only imported about 4,000 tons of rare earths, worth about $175 million. The problem is most of the rare earths we import are embedded already in the technology. If we buy a computer, they are already in it. That makes it harder for China to cut us off," said Marc Chandler, global market strategist at Bannockburn Global Forex.

Chandler said the official's comment was not an official threat from the Chinese government. "The reason the market latches on to this is they think China will retaliate, they just don't know how," said Chandler. "Once they think it through they will realize this will not be today or tomorrow. In order for China to do it comes at a big cost to them. It makes it too severe.

Okay...so do it....and see what happens the following day.

That's what happens when you sell your soul and country to communist.

Just reclaim California for America, tell the Marxist state dictatorship to pound sand and mine our minerals here.

How could 44 allow things to get so bad

Ban it, please! This threat has been heard for more than 10 years.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. business group says retaliation rising in China amid trade warA top U.S. business lobby in China said on Wednesday that nearly half of its mem... BUY USA! PROBLEM SOLVED! trade war with US is a waste of time. China is expending commercial cooperation with EU and countries along one belt one road.
Source: Reuters - 🏆 2. / 97 Read more »

Jamie Dimon warns US-China trade fight becoming a 'real issue' that could deter investment“Trade has gone from being a skirmish to being far more important than that,” Dimon said. “If this goes south in a bad way, and you have other surprises, that could be part of the thing that changes confidence, changes peoples’ willingness to invest.” Gee, ya think? Only thing trump can do to fix this is resign.
Source: CNBC - 🏆 12. / 72 Read more »