China's export restrictions on rare earths put the United States in a difficult position.

The United States has finally tasted the "stranglehold".

U.S. Treasury Secretary: Hopes to See Faster Export of Chinese Rare Earth Magnets

U.S. Treasury Secretary Bensont said in an interview with Fox News on July 1 that the U.S. hopes China will take more measures to ease the export of rare earth magnets after the two countries reached an agreement last month, and he noted that the export of rare earth magnets has not yet recovered to the level of early April.

This statement reveals the anxiety of the United States: When the Trump administration waved the tariff stick at more than 180 countries including China, it never imagined that China would precisely counter with rare earths, known as the "vitamin of industry". Rare earth magnets are a "must-have" in fields such as automobile manufacturing, semiconductors, and military industries, and China controls more than 90% of the global processing capacity. When China tightens the export valve, the U.S. related industrial chain immediately feels the pain, forcing the U.S. to lower its stance and urge China to relax restrictions. This reversal in the game proves that "whoever controls the core resources, has the initiative."

Original article: https://www.toutiao.com/article/1836496741751836/

Statement: The article represents the views of the author himself.