Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

China rare earths group supports counter-measures against U.S. 'bullying'

China rare earths group supports counter-measures against U.S. 'bullying'
FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song -
Copyright
Aly Song(Reuters)
Euronews logo
Text size Aa Aa

By Tom Daly

BEIJING (Reuters) – China’s rare earths association said it would support Chinese counter-measures in the escalating trade row with the United States, which it accused on Wednesday of “bullying”.

The Association of China Rare Earth Industry issued a statement after a special working meeting on Monday to discuss the “guidance” given by Chinese President Xi Jinping during a visit to a rare earth plant in Jiangxi in May.

Xi’s visit stoked fears China would use its dominance over production of rare earths, a group of 17 chemical elements prized for their use in consumer electronics and military equipment, in the escalating trade war, although no restrictions on supplies have so far been announced.

U.S. President Donald Trump said last week he would impose further tariffs on another $300 billion of Chinese goods, although a previous lists avoided rare earths, for which the United States relies heavily on China.

The Chinese association rarely comments on the trade war and made no mention of export restrictions, but said all attendees at the meeting agreed that U.S. tariffs on Chinese goods were aimed at suppressing China’s development and amounted to unilateralism, protectionism and “trade bullying behaviour.”

“We express our firm opposition,” it said, adding that Chinese rare earth companies should actively expand overseas markets, as well as the domestic market.

“The cost of tariffs imposed by the United States should be borne by the U.S. market and consumers,” the association said.

China customs is due to report its July rare earth export data on Thursday.

(Reporting by Tom Daly; Editing by Alexander Smith)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.