Restrictions imposed under the new rules will remain in force until the end of October 2025. Strategic minerals are included in the list of mineral resources and other goods, the supply of which requires disclosure of information on exactly where the product is exported and what type of material it is.
According to analysts, the new export restrictions are not only an industrial but also a political reaction from China ahead of the upcoming meeting between the Chinese President and the US President. China is the world’s first supplier of semiconductor materials used in medicine, weapons and other technologies. The country holds 70 percent of the world market.
The United States is the world’s second-largest supplier, but does not have the necessary smelting capacity, something China could take full advantage of.
Source: Ferra
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
