China imposed restrictions on exporting two metals that are crucial to parts of the semiconductor, telecommunications and electric-vehicle industries in an escalation of the country’s tit-for-tat trade war on technology with the US and Europe.
Gallium and germanium, along with their chemical compounds, will be subject to export controls meant to protect Chinese national security starting Aug. 1, China’s Ministry of Commerce said in a statement Monday.
The governments of Brazil, now under the leadership of radical leftist Luiz Inácio Lula da Silva, and communist China announced an agreement on Wednesday to no longer use the U.S. dollar to conduct trade, instead relying on the Chinese yuan and Brazilian real.
Read More: Breitbart
President Trump and his 2024 presidential campaign on Monday rolled out his “America First” trade policy that would “tax China to build up America” and focus on rewarding domestic production while imposing tariffs on imported goods.
The president’s trade policy would “completely eliminate” the United States’ dependence on China by eliminating China’s most favored nation trade status, adopt a four-year plan to phase out all Chinese imports of essential goods, and ban federal contracts for any company that outsources to China.
Read More: Fox News