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China's Communist Party newspaper warned the United States on Wednesday that the country was ready to use rare earths to strike back in their bitter trade war, saying in an extremely strongly worded commentary "don't say we didn't warn you".
29 May 2019 11:15AM
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BEIJING: China's Communist Party newspaper warned the United States on Wednesday that the country was ready to use rare earths to strike back in their bitter trade war, saying in an extremely strongly worded commentary "don't say we didn't warn you".
President Xi Jinping's visit to a rare earths plant last week fueled speculation that China would use its dominant position as a supplier of rare earths for leverage in the trade war.
"Undoubtedly, the U.S. side wants to use the products made by China's exported rare earths to counter and suppress China's development. The Chinese people will never accept this!" the paper added.
The industrial chain between China and the United States is highly integrated and highly complementary, and there are no winners in a trade war, it said.
"We advise the U.S. side not to underestimate the Chinese side's ability to safeguard its development rights and interests. Don't say we didn't warn you!"
The expression "don't say we didn't warn you" is generally only used by official Chinese media to warn rivals over major areas of disagreement, for example during a border dispute with India in 2017 and in 1978 before China invaded Vietnam.
China accounted for 80per cent of rare earth imports between 2014 and 2017 by the United States, which has excluded them from recent tariffs along with some other critical Chinese minerals.
Beijing, however, has raised tariffs on imports of U.S. rare earth metal ores from 10per cent to 25per cent from June 1, making it less economical to process the material in China.
(Reporting by Ben Blanchard and Tom Daly; Editing by Simon Cameron-Moore)
Source: Reuters
Read more at https://www.channelnewsasia.com/new...-rare-earths--ruling-party-newspaper-11575358
29 May 2019 11:15AM
Share this content
Bookmark
BEIJING: China's Communist Party newspaper warned the United States on Wednesday that the country was ready to use rare earths to strike back in their bitter trade war, saying in an extremely strongly worded commentary "don't say we didn't warn you".
President Xi Jinping's visit to a rare earths plant last week fueled speculation that China would use its dominant position as a supplier of rare earths for leverage in the trade war.
"Undoubtedly, the U.S. side wants to use the products made by China's exported rare earths to counter and suppress China's development. The Chinese people will never accept this!" the paper added.
The industrial chain between China and the United States is highly integrated and highly complementary, and there are no winners in a trade war, it said.
"We advise the U.S. side not to underestimate the Chinese side's ability to safeguard its development rights and interests. Don't say we didn't warn you!"
The expression "don't say we didn't warn you" is generally only used by official Chinese media to warn rivals over major areas of disagreement, for example during a border dispute with India in 2017 and in 1978 before China invaded Vietnam.
China accounted for 80per cent of rare earth imports between 2014 and 2017 by the United States, which has excluded them from recent tariffs along with some other critical Chinese minerals.
Beijing, however, has raised tariffs on imports of U.S. rare earth metal ores from 10per cent to 25per cent from June 1, making it less economical to process the material in China.
(Reporting by Ben Blanchard and Tom Daly; Editing by Simon Cameron-Moore)
Source: Reuters
Read more at https://www.channelnewsasia.com/new...-rare-earths--ruling-party-newspaper-11575358
