⚠️BREAKING: *CHINA ANNOUNCES NEW EXPORT CURBS ON KEY CHIPMAKING METALS IN LATEST TECH WAR WARNING TO U.S, EUROPE 🇨🇳🇺🇸🇪🇺
BEIJING/SHANGHAI - China's restriction of exports of some metals widely used in semiconductors, electric vehicles and high-tech industries has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains.
"China has hit the American trade restrictions where it hurts," said Peter Arkell, chairman of the Global Mining Association of China. "Gallium and germanium are just a couple of the minor metals that are so important for the range of tech products and China is the dominant producer of most of these metals. It is a fantasy to suggest that another country can replace China in the short or even medium term," Arkell said.
A manager at a China-based germanium producer said his company had received several queries from buyers in Europe, Japan and the U.S. hoping to stockpile product before the export controls take effect. The buyers were anticipating it could take as long as two months to obtain export permits. Some downstream users with long-term sales contracts"are vexed about a possible jump in raw material prices, as it raises their production costs and may cause them losses", he said, declining to be named citing the sensitivity of the matter.Taiwan Economy Minister Wang Mei-hua said the short-term impact would not be large, but they would pay attention to how the situation may play out in the long term.
Shares of Australian rare earths producers also rallied as investors placed bets that more curbs could be imposed. Shares in Lynas Rare Earths, the world's largest producer of rare earths outside of China, rose 4%.China's controls come as Washington mulls new restrictions on the shipment of high-tech microchips to China, following a series of curbs in recent years.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Beijing jabs in US-China tech fight with chip material export curbsChina's restriction of exports of some metals widely used in semiconductors, electric vehicles and high-tech industries has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains.
Lire la suite »
Flooding displaces 10,000 around China as Beijing gets a relative respite from sweltering heatHeavy flooding has displaced thousands around China while the capital had a relative respite from sweltering heat after almost 10 days with temperatures exceeding 35C (95F), according to the National Climate Center.
Lire la suite »
Flooding displaces 10,000 around China as Beijing gets a relative respite from sweltering heatHeavy flooding has displaced thousands of people around China as the capital had a relative respite from the sweltering heat.
Lire la suite »
Flooding displaces 10,000 around China as Beijing gets a relative respite from sweltering heatFlooding has displaced thousands of people around China as the capital had a relative respite from a sweltering heat wave.
Lire la suite »
Flooding displaces 10,000 around China as Beijing gets a relative respite from sweltering heatFlooding has displaced thousands of people around China as the capital had a relative respite from a sweltering heat wave.
Lire la suite »