Rare earth elements are used for the production of many consumer goods, from smartphones to electric cars and military jet engines. The increasing tension between the US and China have raised concerns that China is using its position as a leading supplier of such elements as leverage in a trade war between the two powers. About it reports Reuters.
According to available information, from 2014 to 2017, 80% of imported American side of rare earth elements set Beijing. In China is 85% of the world production capacity that allow you to turn rare earth ores into materials for production. Currently, the production capacity of Chinese factories is 220 thousand tons, which is five times faster than other leading manufacturers. If the contradictions weaken, other processing factories will be able to compete with low-cost production in China, but to achieve the same capacity will take years.
Last year the United States spent on the import of rare earth metals and elements of $160 million, which is 17% higher than the previous year. For example, Apple Inc uses the following elements for the production of speakers, cameras and for smartphones vibrate.
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