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Rare earth metal may become next tariff target of Trade War between China and US
Wang.C.S  2018.07.11



American president Trump said Thursday that the administration has prepared another round of tariffs on nearly $300 billion worth of Chinese goods, as the trade war between the world’s two largest economist beings to escalate.

Mr. Trump said the added measures would follow a 25 percent tariff being imposed Friday on $34 billion worth of Chinese goods. It puts a total of $550 billion in goods in the crosshairs of pending tariffs. China vowed to retaliate Friday with higher tariffs on $34 billion worth of U.S. goods.

Economists expect tit-for-tat tariffs to drive up prices paid by U.S. consumers and force job cuts in industries that rely on sales to China.

The 25 percent tariff taking effect Friday will hit products including machinery, auto parts, medical equipment, rare earth metals and vaping devices.

Beijing is retaliating with tariffs on U.S. goods including soybeans, sorghum and cotton, intended to inflict pain on farm states that backed Mr. Trump in 2016.
 
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