China’s Rare Earths Weapon Could Kill Europe’s Auto Industry ...Middle East

OILPRICE - Economy
China’s Rare Earths Weapon Could Kill Europe’s Auto Industry
source : OILPRICE ( Middle East ) () 32
China earlier this year introduced restrictions on its exports of rare earths. The move marked a new stage in the US- China trade spat, when the two sides no longer tried to out-tariff each other but took to more concrete steps. The problem is, the restrictions don’t just apply to U.S. companies. And they may well deliver the fatal blow to Europe’s struggling auto industry. China controls 90% of the world’s rare earths processing capacity. It is the indisputable, if not exactly celebrated in the West, master of the rare earths…

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