China has implemented new rules on the export of its rare earth elements and magnets. Now China wants that this material should be used only for local needs and its use abroad, especially in defense and semiconductor industries, should be limited. According to sources, China wants a guarantee from India that the heavy rare earth magnets sent by it should not go to America and should be used only in India. However, India has so far refused to accept this condition.

According to the Economic Times report, China is the world’s largest country with rare earth elements and it has more than 90% of processed magnets. These elements are used in things like electric vehicles, aircraft engines and military radar. With this step, China is ensuring that its important magnets and technology do not reach anywhere else. This is believed to be part of China’s strategy to strengthen its hold on global technology and defense.

Another expert said, “According to our information, China is considering a deal with the US on heavy rear earth magnets and is not ready to release supplies without a guarantee that they will not go elsewhere.”

What does China want?

China has tightened the rules on the export of rare earth magnets, which is being considered as a bargaining tool in its trade talks with America. This step has come at a time when Trump and Xi Jinping are meeting face to face in South Korea. China wants strict guarantees to be given on exports, like in the Wassenaar Arrangement. Indian companies have also given end-user certificates that these magnets will not be used in making any weapon.

China is not a member of this agreement, but it is applicable to 42 countries for the safe transfer of dual-use technology and goods. India is part of this agreement.

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