China defends rare earth export curbs
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Trump said the U.S. will impose a 100% tariff on China "over and above any Tariff that they are currently paying."
SINGAPORE] Asia-Pacific markets reacted negatively as trading resumed on Monday (Oct 13) following the latest salvo in the trade war between the US and China. Read more at The Business Times.
The Dutch government said it is taking control of Dutch chipmaker Nexperia, which manufactures computer chips for the car and consumer electronics industries, due to worries about the possible transfer of crucial technology to its Chinese parent company,
The president said on his social media site that he is imposing these new tariffs because of export controls placed on rare earth elements by China.
China's trade grew faster than expected last month, official data showed Monday, though fresh fears are rising of a major escalation in the tariff war between Beijing and Washington.
Beijing's export control on some high-end lithium-ion batteries, cathodes and graphite anode material as well as technological know-how will require exporters to seek permits and set to take effect from November 8, per a Ministry of Commerce statement on Thursday.
China's export growth picked up pace in September, buoyed by manufacturers finding buyers in markets beyond the U. as a tariff deal with President Donald Trump remained elusive while investors grappled with the latest salvoes in their trade war.
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