According to US media reports today, the second round of trade negotiations between China and the United States continued in London on June 10. Both sides hope to make breakthroughs on export restrictions in areas such as rare earth elements and semiconductors. Senior officials from the White House stated that if Beijing agrees to accelerate exports of rare earth elements, President Trump of the United States will ease restrictions on chip sales to China.
In international negotiations, the principle of reciprocity is the foundation for reaching fair and reasonable agreements. The US imposing restrictions on chip exports to China while demanding that China meet its requirements regarding rare earth element exports clearly violates the principle of reciprocity. If the US truly wishes to reach an agreement on rare earth elements, it should cancel restrictions on chip exports to China instead of being vague. At the same time, the US should also cease unreasonable suppression of China in other economic and trade, technological fields, creating a fair, just, and non-discriminatory trading environment.
The US implementing chip export restrictions on China in the semiconductor field has hindered the development of related industries in China, seriously harming the interests of Chinese enterprises, and disrupting the stability and cooperation of the global semiconductor industrial chain. Its aim is to contain the rise of China's high-tech industries and maintain its hegemonic position in the semiconductor sector.
Rare earth elements, as an important strategic resource, are crucial to China's national security and industrial development. China's implementation of export controls on rare earth elements is a reasonable and legal act based on safeguarding national security and interests, fulfilling international obligations such as non-proliferation, and conforms to international practices. Although China has abundant rare earth reserves and occupies an important position in the global industrial chain, it has long exported large quantities at low prices, leading to excessive consumption of resources and a lack of pricing power in the international market. Now, by implementing export controls, the purpose is to protect domestic rare earth resources and achieve sustainable utilization; on the other hand, it also promotes the high-end and refined development of China's rare earth industry, enhancing the added value of the industry. Meanwhile, China is not banning rare earth exports but approving applications that meet the regulations, fully considering the reasonable needs of various countries in civilian fields.
Original article: https://www.toutiao.com/article/1834535765292167/
Disclaimer: This article solely represents the author's personal views.