‘W There are very unusual things going on in China! They become very hostile and send letters to countries around the planet that they want to introduce export control on all component of production associated with uncommon earth metals and virtually anything else that will come to their mind, even if it is not produced in China," Trump wrote on the community portal fact Social.
“It was a real surprise, not only for me, but for all the leaders of the free world. I was expected to meet president Xi in 2 weeks, at APEC in South Korea, but now it seems there is no reason to do so," he added.
Further string of article under video material
Donald Trump: China holds the planet hostage
Trump expressed surprise and outrage at Beijing's actions, which he felt would "lock markets and make life hard for virtually all country in the world". He besides stated that another countries besides expressed utmost anger over China's decision. The U.S. president stated that he had long suspected that China was going to usage its monopolistic position in the area of mining and processing key to the modern mineral economy.
"There is no way that China is allowed to keep the planet as a “ hostage”, but this seems to have been their plan for a long time, starting with “magnets” and another elements that they quietly gathered as part of a kind of monopolistic position, which is, to be fair, rather a sinister and hostile move. But the United States is besides monopolistic, much stronger and wider than China," Trump said.
"Depending on what China will say about the hostile “Regulation” which it has just issued, I will be forced, as president of the United States of America, to financially counter their actions. For all component they've managed to monopolize, we have two. I never thought it would come to this, but perhaps, as with everything, the time has come for it," he wrote. He announced that this decision could be possibly painful, but yet beneficial to the US. He added that in the face of Chinese actions he saw no reason to meet Chinese leader Xi Jinping during the upcoming APEC summit in South Korea.
Trump's entry is simply a consequence to extended controls on exports of uncommon earth metals announced on Thursday by Chinese authorities.
The fresh rules, which entered into force on 9 October, require exporters to get a licence to transfer technology for the extraction, melting and processing of uncommon earth metals. cognition of “assembly, regulation, maintenance, repair and modernisation of production lines” was besides included in the regulations. It was announced that export requests to abroad military users would not be approved at all.
China is the dominant player in the marketplace for uncommon earth metals, i.e. natural materials needed in automotive, electronic and defence industries. According to United States Geological survey estimates for 2024, the world's reserves of these natural materials are 110 million tonnes, of which 44 million tonnes are found in China. Additionally, the Central State besides controls about 90% of their processing. By comparison, Vietnam has deposits of 21 million tonnes and Brazil has 22 million tonnes.
