Kathmandu. The ongoing trade war between the US and China could affect trade around the world. But even before that, China has taken such a step, whose impact can be seen all over the world.
On April 14, China banned the export of Rare Earth Elements (REEs) and magnets. China has taken this step in response to the 145% tax imposed by the US.
China’s ban on this rare element is believed to reduce its supply worldwide. According to a report published in The New York Times, China has not yet developed a licensing system for other countries. As a result, shipments to ports have been stopped. China has taken this step to target america. However, it can affect other countries as well.
#कहाँ its use?##
China has banned the export of half a dozen REEs, including yttrium and dysprosium. These are used to make jet engines, defense equipment and modern electronics. China is the largest producer and exporter of these metals. Therefore, stopping shipments at ports can lead to a worldwide supply shortage. Countries like the US, Japan, Vietnam and Germany are its biggest consumers.
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Some Japanese companies have held stocks for more than a year. Therefore, they will not have to face much problem due to its ban. This is not the first time China has imposed sanctions. In 2010, China stopped supplying REE to Japan for seven weeks due to a territorial dispute in the South China Sea.
#inline_tags_PLACEHOLDER_7##पहिलादेखि was afraid
Experts at the Washington-based Center for Strategic and International Studies (CSIS) said there were already fears that China would ban its exports. Between 2023 and 2025, China began banning exports of strategic materials, including gallium, germanium, antimony, graphite and tungsten, to the United States. – Agency
