Summary
- Beijing's curbs follow latest US limits on Chinese chip sector
- Exports of gallium, germanium to US already stalled
- Antimony prices surge this year as China stifles exports
Dec 3 (Reuters) - China on Tuesday banned exports to the United States of the critical minerals gallium, germanium and antimony that have potential military applications, escalating trade tensions the day after Washington's latest crackdown on China's chip sector.A Commerce Ministry directive on dual-use items with both military and civilian applications cited national security concerns. The order, which takes immediate effect, also requires stricter review of end-usage for graphite items shipped to the U.S. Graphite is a component of EV batteries.
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0 sats \ 0 replies \ @7e6e393a56 12h
When Trump indicated a 100% rate, there would certainly be some type of retaliation.
I read yesterday that China recently sold dollar-denominated debt securities to the Saudi Arabian market, and that this plan aims to reduce the dependence of countries that maintain more productive relations with China, but still maintain many relationships of financial dependence with the United States.
Indebted poor countries could refinance their external debts via China with countries that have foreign savings, such as Saudi Arabia, detaching themselves from the United States in this context. This would concentrate the demand for dollars in China (Chinese sell manufacturing to the US and obtain dollars), which would operate the new dollar system without the United States. US reactions would tend to further isolate the country. The only viable reaction would be to reindustrialize and return to hegemonizing trade with the Global South
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0 sats \ 0 replies \ @TheBTCManual 13h
Lol taxes to become a lesser evil real soon
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0 sats \ 1 reply \ @Jon_Hodl 13h
This "trade war" is gonna be epic.
I'm not gonna be able to afford cheap crap from abroad anymore but I am gonna have plenty of popcorn as I watch it all go down 🍿
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0 sats \ 0 replies \ @0xbitcoiner OP 12h
I can hear my popcorn popping!
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0 sats \ 0 replies \ @DEADBEEF 15h
Should be interesting to see if this spurs more domestic production of these kinds of materials.
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