Turkey demands China to speed up rare earth exports
US President Trump said on Monday during a meeting with South Korean President Yoon Suk-yeol: "They must give us magnets. If they don't give us magnets, we will impose about 200% tariffs. But I think we won't mind."
Trump also said that we will go to China at some point this year. China is the world's leading producer of rare earths, which are essential for magnets used in the automotive, electronics, and weapons industries.
However, in early April, China implemented a licensing system for the export of these strategic materials, a decision seen as a countermeasure against US tariffs. Subsequently, the trade war between the two countries escalated, with both sides responding by increasing tariffs on each other, reaching 125% and 145%, respectively.
Afterwards, negotiations between the two world powers eased the tension, and China has committed to speeding up the issuance of licenses to multiple American companies. US President Trump said, "I think our relationship with China is good. At some point this year, we should visit China."
Trump reiterated that although he acknowledges Beijing "has some tricks," "we also have some very amazing tricks. But I don't want to play these cards." In recent months, US and Chinese officials have held three meetings to address a series of issues related to bilateral trade relations.
At the end of these meetings, the two countries agreed to maintain their respective tariffs at 30% and 10% for 90 days. This period has been extended twice, most recently until November.
Source: rfi
Original: www.toutiao.com/article/1841477738930179/
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