China issues reminder that it has yet to unleash all its weapons in its trade war with Trump administration
Rare earth minerals are essential to modern economies and advanced technology, and China holds a near monopoly over them.
For months, the world's two biggest economies have been locked in a standoff over allegations that China deploys predatory tactics — including stealing trade secrets and forcing foreign companies to hand over technology — in a drive to supplant US technological dominance. Huawei is trying to beat back one punitive US measure in federal court. In a motion filed late Tuesday in eastern Texas, the company argued that a 2018 law that bars it from selling telecom gear to US government agencies and contractors should be struck down as unconstitutional.
The law "is intended to drive Huawei out of the US — i.e., to banish it," Nager argued. It "stigmatizes Huawei as a tool of the Chinese government" with no right to a fair hearing, he added. President Xi Jinping visited rare earth-related businesses in southeastern Jiangxi province earlier this month. He called rare earths "an important strategic resource" while stressing the importance of owning independent core technologies, the state-run China Daily reported.
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