China’s rare earth exports fell by seven percent in November compared to the previous month. However, with 4,416 tons, the figure surpassed the previous year’s level by nearly five percent, according to data from the Chinese customs authority. Overall, the country’s foreign trade performed worse than expected. According to Reuters, exports grew at a slower pace, while imports even declined.
The country faces an additional challenge with the trade policies anticipated from U.S. President-elect Donald Trump, who plans a tougher stance on China. Relations between the two countries have been strained for years, as evidenced by the U.S. efforts to block China’s access to cutting-edge computer chips. In response to recent measures by Washington, Beijing announced a ban on the export of certain raw materials, including those used in chip manufacturing, just last week (as previously reported).
Photo: iStock/Sybille Reuter
