China’s rare-earth export curbs strain magnet makers despite geopolitical leverage
China’s export restrictions on rare earths have bolstered its geopolitical hand but triggered steep losses and production cuts for its magnet manufa...
China’s Foreign Ministry has responded forcefully to reports that Canada is pursuing action at the World Trade Organization (WTO) over Chinese duties on Canadian agricultural and fishery products, stating that its countermeasures are "justified, reasonable, and lawful."
Foreign Ministry spokesperson Lin Jian reaffirmed China's position during a press briefing in Beijing, emphasizing that the tariffs in question align with international trade regulations. "China's trade policies, including those affecting Canadian imports, are fully compliant with WTO principles and are implemented to safeguard the legitimate rights and interests of our industries," Lin stated.
The response comes after reports that Canada is escalating its trade dispute with China by formally challenging the tariffs imposed on agricultural products, including canola, seafood, and other key exports. Canadian officials have argued that China’s duties are unjustified and in violation of global trade norms.
Tensions between the two countries have been on the rise since 2018, following the arrest of Huawei executive Meng Wanzhou in Canada and subsequent diplomatic and economic frictions. The imposition of trade barriers by both sides has fueled ongoing disputes, prompting multiple WTO consultations.
Lin stressed that China has always supported multilateral trade mechanisms but will not hesitate to defend its economic sovereignty. "If Canada truly values fair trade, it should engage in dialogue rather than resorting to litigation," he added.
The WTO case is expected to take months, if not years, to reach a resolution. In the meantime, Canadian exporters remain concerned about the long-term impact of strained trade relations with one of their largest trading partners.
This latest trade dispute underscores broader geopolitical tensions between Canada and China, as both nations continue to navigate diplomatic challenges alongside economic disagreements.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
China has warned Myanmar's Kachin rebels it will block rare-earth imports from their territory unless they halt an offensive on a key junta stronghold, raising fears over the global supply of critical minerals.
China has consolidated its rare-earth sector into two state-owned giants, tightened export quotas, and introduced new supply-chain tracking systems as part of a sweeping push to reinforce its global dominance in critical mineral processing.
Beijing has warned the Trump administration against restoring steep U.S. tariffs next month and signalled it will retaliate against countries that cut China out of supply chains through bilateral deals with Washington.
China’s export restrictions on rare earths have bolstered its geopolitical hand but triggered steep losses and production cuts for its magnet manufacturers, already hit by weak domestic demand and shrinking overseas sales.
A planned 10% U.S. tariff targeting BRICS nations will be triggered only if they adopt policies deemed "anti-American", a source close to the Trump administration said, amid trade talks and denials from bloc members.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment