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.
From everyone I’ve spoken to that’s been to China, there is no competition the U.S. has anymore. We were already pretty screwed to “compete” in the world race, but once Trump was elected to office we gave up what little run we had left. We have some serious stuff to cover locally in our own country before we can truly compete again.