China announced sweeping export controls on Tuesday targeting five metals used across defence, clean energy and other industries, minutes after an additional 10% tariff on Chinese goods imposed by U.S.

Beijing’s export restriction move only highlights China’s already well-known dominance in transition technology and the rest of the world’s near complete reliance on it for this technology

A network of at least 26 state-backed banks has helped Beijing tighten its grip on critical minerals over the past two decades.

China said on Tuesday it would restrict exports of five metals used in defence, clean energy and other industries in response to fresh U.S. tariffs, refraining from the outright export bans Beijing has previously used against Washington.

In a move that escalates the ongoing trade war, China has revealed stringent export restrictions on five metals crucial to multiple sectors including defense, clean energy, and various other industries,