Amid Strained Trade Relations with China, Japan Strikes Rare Earths Deal with Vietnam
Experts warn that rare-earth rarity could touch off trade wars In the midst of what's been shaping up as an undeclared rare earths standoff between China and some of it's biggest customers in Japan and the West, Vietnamese and Japanese leaders have decided to collaborate in the exploitation of northern Vietnam's rare earth elements. The deal was hammered out between the two nations' prime ministers during a meeting on Sunday. Back in September it was reported that Chinese customs officials had halted shipments of rare earths elements to Japan though no official embargo was declared by the Chinese government. Two weeks ago it was further reported that China had expanded the rare earths suspension to include the U.S. and Europe. China exports more than 95 percent of the world's supply of rare earth elements, which are necessary materials for the manufacture of a vast variety of modern goods, ranging from hybrid car...