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China's export ban: A new blow in the technology conflict with the USA!
China is tightening export controls on rare minerals while the US is stepping up technology embargoes. Current trade disputes highlighted.
China's export ban: A new blow in the technology conflict with the USA!
In a dramatic turnaround in the US-China trade war, Beijing announced on Tuesday it would ban the export of key rare minerals, including gallium, germanium and antimony, to the United States. This decision follows the Biden administration's recently tightened measures that significantly limited China's access to advanced American technology. As the Vienna.at reported, China justifies the procedure on the grounds of national security interests, as these materials are used in military applications.
China dominated the market for gallium and germanium last year, with a market share of around 90 percent and 80 percent, respectively. According to the Association of German Engineers (VDI), no Chinese exports of these raw materials to the United States were recorded as of the end of October 2024, despite the United States being one of the largest markets for these minerals. This has far-reaching consequences as prices for these critical resources are expected to rise, threatening the technological ambitions of the American chip industry. In addition, exports of antimony products fell by 97 percent in October, due to the new export restrictions, such as New York Times executed.