The New York Times reported that against the backdrop of the Sino-US trade war, the Chinese government has decided to suspend the export of multiple rare earth metals and magnets, which may have a negative impact on the global automotive, semiconductor, and aerospace industries.
The report wrote that the Chinese government is formulating a new export management system, during which it will stop exporting magnets and heavy rare earth metals required for assembled cars, drones, and rockets from many ports.
The article stated that these measures could severely affect the production activities of certain companies, including US defense contractors, as well as supplies to Japan and Germany.
The New York Times pointed out that the export volume of rare earth magnets accounts for only a small portion of China's overall exports, so it will not cause serious economic losses to China, but may have serious consequences for the United States and other countries.
Original article: https://www.toutiao.com/article/1829354710214660/
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