China has introduced new export controls on five critical metals—tungsten, tellurium, bismuth, indium, and molybdenum—in retaliation for President Trump’s recently announced 10% blanket tariff on Chinese imports. While some of the targeted metals, like molybdenum and indium, are unlikely to severely impact U.S. industries due to diversified supply chains, others, such as tungsten and bismuth, may cause disruptions given the U.S.’s reliance on Chinese imports. China also announced new tariffs of up to 15% on U.S. coal, LNG, crude oil, and various goods, signaling a potential escalation ahead of Trump’s pending review of China’s compliance with the 2020 trade deal.
