China dominates the global market for rare-earth materials. © Reuters
Nikkei Asia: China weighs export ban for rare-earth magnet tech
Beijing looks to strike back after Washington's chip restrictions
BEIJING -- China is considering prohibiting exports of certain rare-earth magnet technology in a move that would counter the U.S.'s advantage in the high-tech arena. Officials are planning amendments to a technology export restriction list, which was last updated in 2020.
The revisions would either ban or restrict exports of technology to process and refine rare-earth elements. There are also proposed provisions that would prohibit or limit exports of alloy tech for making high-performance magnets derived from rare earths. In all, there are 43 amendments or additions in the draft list first announced in December by the commerce and technology ministries.
Officials have finished taking public comments from experts, and the changes are expected to go into force this year. High performance magnets are used in a wide range of applications, such as motors for electric vehicles.
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Update: China Plans to Ban Exports of Rare Earth Magnet Tech (Japan News/Yomiuri Shimbun)
Update #2: China Weighs Rare Earth Magnet Export Ban In Retaliation To Biden Chip Crackdown (Zero Hedge)
WNU Editor: China is responding to changing markets .... The West is trying to cut China out of rare earths—and China is noticing (Quartz). Unfortunately the US continues to shoot itself in the foot .... Biden official grilled for cutting domestic mining despite US reliance on China (ABC News).