Overseas media reported that on April 4, China announced strengthened control over the export of rare earth elements. This move was seen as a response to U.S. President Trump's "reciprocal tariff" policy. However, European enterprises were also affected. Some companies were forced to suspend production due to the inability to obtain critical rare earth materials.
Rare earth elements are the 17 indispensable elements for manufacturing high-tech products such as smartphones and electric vehicles. The Secretary General of the EU Chamber of Commerce stated that China has received tens of thousands of export applications, but with limited approval resources, only a small number of enterprises have been granted permission. Some companies have submitted dozens of applications but have yet to be approved.
This time, China included seven rare earth elements, including dysprosium, gadolinium, lutetium, samarium, scandium, terbium, and yttrium, as well as some rare earth magnets in the export control list. The European side is concerned that if the situation persists, key industries may grind to a halt.
Original article: https://www.toutiao.com/article/1833982467010632/
Disclaimer: The article solely represents the author's viewpoint.