Why China’s mineral monopoly has emerged as key obstacle in US tariff talks: ‘They hold virtually all of the cards’

Source: New York Post

China’s exploitation of its monopoly over rare earth elements has become a major sticking point in high-stakes trade talks with President Trump – and experts warn the US needs to prepare for the worst. Beijing has infuriated Trump officials by failing to loosen its crackdown on exports of seven “heavy” rare earth metals which are essential for gadgets like smartphones and electric cars as well as military hardware like F-35 fighter jets and drones. On Friday, Trump fumed that China had “totally violated” the terms of a preliminary trade agreement struck in Geneva, which included a 90-day tariff truce that runs until mid-August.