MPs cut us off rare land in China in the current tariff battle

In response to Chinese tariffs And the export elements of the government, the deputies possessing a single mine of rare land in the United States announced on Thursday that they will stop supplying rare land to China.

The company said in a statement that they are preparing for this point and that it reflects “a long -term vision built to withstand short -term dislocation and strengthen.”

The company also stated that the sale of its “critical” materials at 125% of the tariffs are neither commercially rational nor the national interests of America.

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MPs claim that in recent months he has started separation – or refinement – a trait. This is the first time effort has taken place in the US since 2015. (MP Materials / Fox News)

The deputy states that more than 70% of his income comes from the sale of rare land concentrated since almost half of it is now being clarified in California and is sold outside China.

The fact that rare land is concentrated from its California mine contains 17 metals used to produce magnets that help turn power into electric vehicles, cell phones and other electronics.

The view of the Materials MPs is the rare land open land in Mountain Pass, California, USA, January 30, 2020. A picture taken on January 30, 2020. (Reuters / Steve Marcus / Reuters Photos)

“The deputy has invested nearly $ 1 billion to restore the full rare supply network in the US. Today, our California refinery handles almost half of our production, and virtually all this material is sold in markets outside China – including Japan, South Korea and the US,” the company said.

Their decision comes next President Trump To check in potential new tariffs on all important mineral imports.

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MPs are preparing for the manufacture of these magnets – specifically for General Motors electric vehicles. (MP Materials / Fox News)

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Say American industry“And what they” were proud to lead these efforts for our partners, our country and the future. ”

The deputy reports on the quarterly profit and will provide more information on May 8.

Reuters contributed to this report.