In the latest developments of China’s recent export controls on rare-earth, the United States expects India’s help to combat the export control grip established by China while keeping 50% tariffs on Indian goods. US Treasury Secretary Scott Bessent said that Washington is seeking support from India and other allies to counter China’s tightening export controls over rare-earth supplies even as the United States continues to impose US tariffs on Indian goods.
Furthermore, the secretary called Beijing’s recent export curbs as China versus the world, expressing confidence that US partners would align behind Washington’s countermeasures. Notably, the statement emerged when the US continues a 50% tariff on Indian imports.He alleged that Beijing of financing war, stating that its restrictions are intimidating the global economy. This is the charge that has been earlier alleged against India for buying Russian crude oil amid Moscow’s ongoing war in Ukraine.
China imposed the export control measures on rare-earth elements
China imposed the export control measures on rare-earth elements and new fees on US ships after Washington expanded its own export rules. The US Department of Defence stated that rare earth magnets are crucial for American military systems, including F-35 fighter jets, submarines, drones, Tomahawk missiles, and radar equipment. The International Energy Agency estimates that China is responsible for 60 per cent of global rare-earth mining and around 90 per cent of refining, whereas the US Geological Survey highlighted that nearly 70 per cent of US rare-earth imports come from China.