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China doubles down. Pull back US-private equity investments. Halt new investments in US PE firms. Withdraw planned commitments. Avoid US-linked deals
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reuters.com
Unknown Author
April 22, 20256:52 AM EDT
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SEOUL, April 22 (Reuters) - Beijing recently asked South Korean companies not to export products containing China's rare earth minerals to U.S. defense firms, the Korea Economic Daily reported on Tuesday, citing government and company sources.
The report said China's commerce ministry delivered the message in letters to Korean companies which make power transformers, batteries, displays, electric vehicles, aerospace and medical equipment, all of which use the key materials.
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The letters said Korean companies could face sanctions if they violate the export restrictions, the report said.
South Korea's Industry Ministry was not immediately available for comments outside business hours.
Early this month, China placed export restrictions on rare earth elements as part of its sweeping response to U.S. President Donald Trump's tariffs, squeezing supply to the West of minerals used to make weapons, electronics and a range of consumer goods.
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China asks Korea not to export products using rare earths to US defense firms, paper reports
Unknown Author
April 22, 20256:52 AM EDT
Purchase Licensing Rights, opens new tab
SEOUL, April 22 (Reuters) - Beijing recently asked South Korean companies not to export products containing China's rare earth minerals to U.S. defense firms, the Korea Economic Daily reported on Tuesday, citing government and company sources.
The report said China's commerce ministry delivered the message in letters to Korean companies which make power transformers, batteries, displays, electric vehicles, aerospace and medical equipment, all of which use the key materials.
The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.
The letters said Korean companies could face sanctions if they violate the export restrictions, the report said.
South Korea's Industry Ministry was not immediately available for comments outside business hours.
Early this month, China placed export restrictions on rare earth elements as part of its sweeping response to U.S. President Donald Trump's tariffs, squeezing supply to the West of minerals used to make weapons, electronics and a range of consumer goods.
Our Standards: The Thomson Reuters Trust Principles., opens new tab