China: We Do Not Want Trade Wars, But We Are Not Afraid

China's Export Controls on Rare Earth Elements

China stated that the control measures on the export of rare earth elements are a requirement of international obligations, despite threats from U.S. President Donald Trump regarding additional tariffs.

In a statement from the Chinese Ministry of Commerce, it was noted that these elements are used in military applications, highlighting that "controls on the export of rare earth elements and related products are a legitimate measure in accordance with the law."

China's Responsible Approach

The statement pointed out that China is fulfilling its responsibilities amid ongoing armed conflicts and turbulent situations around the world, and therefore has implemented export control measures.

China emphasized that while providing necessary facilitation for products used solely for civilian purposes, it is crucial to monitor exports rather than suspend them.

"We Do Not Want Trade Wars"

In response to Trump’s statement about imposing a 100% additional tariff if China maintains its stance, it was said, "Such threats are not the right approach. We do not want trade wars, but we are not afraid of them either."

It was also emphasized that the U.S. has implemented new restrictive measures following tariff negotiations held in September. During this process, many new Chinese companies were added to the export control list.

Strategic Importance Ahead of APEC Summit

The timing of China’s statements is noteworthy as it coincides with the upcoming meeting between the U.S. and Chinese leaders at the APEC Summit. These negotiations are expected to aim at enhancing economic cooperation between the two countries.

Global Dominance in Rare Earth Element Production

According to the U.S. Geological Survey, global production of rare earth elements is projected to reach 390,000 tons in 2024, with China accounting for 270,000 tons of this total. China aims to produce 69% of the world's supply, thereby increasing its influence in the global market.