China holds a near-monopoly in the processing of the elements crucial for making everything from smartphones to fighter jets.

Last week, China’s Ministry of Commerce published a document that went by the name of “announcement No. 62 of 2025”.

But this wasn’t just any bureaucratic missive. It has rocked the fragile tariffs truce with the US.

The announcement detailed sweeping new curbs on its rare earth exports, in a move that tightens Beijing’s grip on the global supply of the critical minerals - and reminded Donald Trump just how much leverage China holds in the trade war.

China has a near-monopoly in the processing of rare earths - crucial for the production of everything from smartphones to fighter jets.

    • NauticalNoodle@lemmy.mlEnglish
      2·
      13 hours ago

      True. IIRC during his first administration he backed the U.S. out of the international treaty that governed minig ocean floor rare earth deposits because the U.S. didn’t have a dispropotionate amount of power compared to other treaty signatories.