Beijing generates a new regulatory system that can inhibit the sale of components to individual companies, including American military contractors.
China has suspended the export of rare minerals and magnets after US president who raised Donald Trump for Chinese imports by 145%. This was reported by the New York Times.
It is noted that the delivery has stopped all Chinese ports as Beijing develops a new regulation system that may hinder the sale of components to individual companies, in particular, American military contractors.
As you know, the automotic and aerospace industries, companies for making semiconductors and military contractors around the world are critical to Chinese supplies. In particular, magnets are used to accumulate many types of equipment – from cars and drones to robots and missiles.
Remember that in early April, Trump announced the introduction of trade duties in 211 countries and territories. Later, their introduction was postponed within 90 days, but the tariffs remained for China. Their size was originally 20%, but then in many stages it increased to 145%.
As reported, Beijing introduced the duties, setting them at 125%level.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.