All over the world, China has been designated as a currency-manipulating country and has been preparing for a response to the US, which has declared a currency war following the trade and technology wars.

According to the Hong Kong South China Morning Post, the China Rare Earth Industry Association said in a statement it is ready to use our industrial power as a weapon in the trade war with the United States, and firmly supports the Chinese government's response to US tariffs.

The association, which has more than 300 rare earth mining and processing companies in China, declares that we will pass any tariffs on to consumers and that US consumers will bear the tariff burden imposed by the US government.

Although the Chinese government has suggested the use of rare earth cards in response to US tariffs, it is the first time that it has explicitly declared "rare earth weaponization."

Rare earth is used not only in the general industry such as motors, TVs, smartphones, electric vehicles, medical equipment, refineries, but also in military weapons such as radars and sensors.

China accounts for more than 80% of the world's rare earth production, and the United States imports most of the rare earth from China.