Report: China May Curb Rare Earth Exports to Cripple U.S. Defense Industry

Report: China May Curb Rare Earth Exports to Cripple U.S. Defense Industry


China could cripple the United State’s defense industry by limiting the export of rare earth minerals that are critical to manufacturing F-35 fighter jets and other vital weaponry, according to a report in Financial Times.

Financial Times writes:

The Ministry of Industry and Information Technology last month proposed draft controls on the production and export of 17 rare earth minerals in China, which controls about 80 per cent of global supply.

The Chinese move follows deteriorating Sino-US relations and an emerging technology war between the two countries. The Trump administration tried to make it harder for Chinese companies to import sensitive US technology, such as high-end semiconductors. The Biden administration has signalled that it would also restrict certain exports but would work more closely with allies. Beijing’s control of rare earths threatens to become a new source of friction with Washington but some warn any aggressive moves by China could

Trending: UNPRECEDENTED: The Federal Reserve Went Down Today

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend