Sino-US trade friction continues to escalate. Will it become China's other "trump card"?
Recently, trade frictions between China and the United States continued to escalate. Last week, US President Trump issued a statement to consider adding tariffs on China’s 100 billion U.S. dollars in exports. The Ministry of Commerce of China responded that China has already formulated very specific countermeasures and will fight resolutely. The spokesman of the Ministry of Commerce said at the peak:
We have already prepared for the United States to take further actions in accordance with the bottom-line thinking approach and have formulated very specific countermeasures. The Chinese way of doing things is that we will not pick up things, but if someone picks things up, we will resolutely fight. The Chinese have always been very serious in their handling of affairs. We will certainly say that we will do it.
So what content might China's countermeasures contain? On April 6, "Science and Technology Daily" stated that China still holds a heavy "secret weapon" in its hands: rare earth. As an important strategic resource, if rare earths enter the list of commodities involved in this trade friction, it will mean that the friction will escalate again.