The United States has again decided not to impose tariffs on rare earths and other critical minerals from China, underscoring its reliance on the Asian nation for a group of materials used in everything from consumer electronics to military equipment, said Reuters
The minerals are set to be among the few items spared from US tariffs in an escalating trade war with China, which is the world’s biggest producer of rare earths.
The office of US Trade Representative Robert Lighthizer also released a list of further Chinese goods, worth around $300 billion annually, that have been earmarked for a 25% tariff. Lighthizer said this next round of tariffs would cover “essentially all remaining imports from China” not yet hit by tariffs.
Beijing, however, is set to raise tariffs on around $60 billion in US goods, including rare earth ores, hitting back at a tariff hike by Washington on $200 billion of Chinese goods in the bitter dispute.