World trade war looms as China strikes all US imports with 34 percent tariff – POLITICO

Along with the retaliatory tariffs, China also raised the bar for exports to the U.S. of critical raw materials, such as samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium.

These metals are used in magnets, nuclear tech, cancer research, oil drilling or other high-tech sectors. In recent trade disputes with the U.S. and EU, China has already restricted trade in more common metals like graphite, gallium and germanium.

In a statement, the Chinese finance ministry said: “This practice of the U.S. is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice.”

Martina Sapio contributed to this report.

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