
China has announced sweeping export restrictions on five metals used in the defence, clean energy and other industries.
China has placed counter tariffs on US imports that will come into effect on February 10 after President Donald Trump placed 10 percent levies on Chinese goods.
Here is what you need to know about them:
- Tungsten is an ultra-hard metal – in terms of strength, outdone only by diamonds – and is primarily used in the production of goods including artillery shells, armour plating and cutting tools. About 60 percent of its US consumption goes to making tungsten carbide, a highly durable material used in construction, metalworking, and oil and gas drilling.
- Indium is a vital part of phone screens and TV displays via a refined product called indium tin oxide. A separate indium product is also used in fibre-optic technology. The expansion of fifth-generation (5G) cellular networks has led to greater demand for indium.
- Bismuth is used in solders, alloys, metallurgical additives, medications and atomic research. The US ceased production of primary refined bismuth in 1997 and is highly import reliant, according to the USGS.
- Tellurium, usually a byproduct of copper refining, is used across metallurgy and in solar panels, memory chips and other products. Most US products requiring tellurium relied on imports of the metal.
- Molybdenum is primarily used to strengthen and harden steel alloys, making them more resistant to heat and corrosion. It is also used in lubricants, pigments and as a catalyst in the petroleum industry.
Source: Al Jazeera
US President Donald Trump’s tariffs on goods from Canada and Mexico are on hold for a month.
But US levies on Chinese products have gone into effect – and Beijing has hit back with duties of its own.
China accuses Washington of unilateralism and has filed a complaint with the World Trade Organization.
President Trump says America has been ripped off by “every country in the world”.
So, are tariffs the answer? And at what cost?