China has announced new export controls on seven rare earth elements, a move that could have significant implications for global technology and defense industries.
The Ministry of Commerce, in coordination with the General Administration of Customs, revealed on Friday that the export controls would take immediate effect. The rare earth elements affected are samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium.
According to a spokesperson from the Ministry of Commerce, the decision aims to better safeguard national security and interests while fulfilling international non-proliferation obligations. “These items are dual-use in nature, and imposing export controls on them is a common international practice,” the spokesperson explained.
The spokesperson added, “China is willing to enhance external communication and cooperation through bilateral dialogues on export control mechanisms, in order to promote compliant trade.”
Rare earth elements are essential components in a wide range of high-tech products, from smartphones and electric vehicles to advanced military equipment. China’s decision to tighten export controls could impact industries worldwide that rely on these materials.
This move reflects China’s strategic approach to resource management and its commitment to international obligations. Observers will be watching closely to see how this decision affects global supply chains and international trade relations.
