China: Don’t say we didn’t warn you!
The Global Times tweeted that China is “seriously” considering restricting rare earths exports to the U.S.
China’s official state People’s Daily is hinting Wednesday that Beijing is about to retaliate against Trump by cutting access by the US to the rare earths market.
The rare earth’s market has been a potential threat from China for decades since China built up its internal mining of these important natural resources. Rare earth minerals are critical to modern electronics .. from cell phones to batteries to wind turbines. China now supplies about 80% of U.S. imports of these critical minerals. So far Trump’s tariffs exclude rare earths from its list of Chinese imports.
The editor in chief of Global Times tweeted, “The U.S. side wants to use the products made by China’s exported rare earths to counter and suppress China’s development. The Chinese people will never accept this!” China’s official state People’s Daily newspaper said in an editorial on Wednesday. “We advise the U.S. side not to underestimate the Chinese side’s ability to safeguard its development rights and interests. Don’t say we didn’t warn you!” Official Chinese media uses “Don’t say we didn’t warn you.”
China go go right ahead and do it. It just means that the not so rare rare Earths will be mined elsewhere like in the US, Brazil and mayb even Japan. If Coke wants to keep market share it does not let Pepsi have the opportunity to build market share by stopping the production of Coke. This is economics 101. US to China go right ahead and stop exporting, but that would put you in violation of a 2014 ruling, and we have plenty of rare Earths right here in the US.
http://fortune.com/2019/05/29/china-rare-earth-metals-trade-war/
There are no “not so rare earths” .. This is physics. China has exceptional resources. Not quite at Saudi levels but way beyond US.