Rare earths
Trump wants magnets from China – otherwise they are threatened to do tariffs
In the dispute over rare earths, Donald Trump increases the pressure on China. If the United States does not receive a magnets, you have to react with tariffs, the US president said.
US President Donald Trump threatened China with punitive tariffs of up to 200 percent if Beijing does not reliably supply the United States with magnets from rare earths. “You have to give us magnets,” said Trump at a meeting with South Korea’s President Lee Jae Myung in the White House. Otherwise you have to collect “200 percent inches or something”.
At the same time, he admitted that such drastic measures would mean a collapse of the trade with China. “We have a much more powerful remedy, that’s tariffs. If we raise 100 percent, 200 percent tariffs, we would no longer do a trade with China”. This would also be okay if it had to be.
Donald Trump and China had paused customs dispute in early August
Rare earths are metals that are used for many modern devices – for example for cell phones, wind turbines, electric cars or for weapons. Magnets made from this are particularly important. China is a leader worldwide when it comes to promoting and processing these raw materials, the USA is dependent on imports. Beijing had limited the export of the metals and magnets in the trade conflict.
Trump’s recent statements are contrasting to his recently more conciliatory tones. It was only at the beginning of August that he had announced an extension of the ceasefire in the customs dispute with China by another 90 days. Both states had agreed in May to initiate new punitive measures for the time being in order to make progress for trade issues and issues such as delivery, such as delivery and when accessing US ACI chips.
As the “Wall Street Journal” reported, a Chinese delegation around the Chinese negotiator Liengang should travel to Washington this week.
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Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
