China Counterattacks! China’s New Ban Limits Graphite Ore Exports | What impact Will This Have?

#china #chinanews #usa #europe #graphite #southkorea ✨✨✨✨✨✨✨✨✨✨✨✨ In order to further crack down on China’s electric vehicle industry, the EU announced a new regulation on October 4 this year, launching a countervailing investigation into Chinese electric vehicles and threatening to increase tariffs on electric vehicle exports to China. Subsequently, the U.S. government also adopted new sanctions and issued final regulations on semiconductor export controls against China on October 17. The core content of this regulation is to prohibit the shipment of chips to China through other countries. Faced with malicious sanctions from Western countries, China seems to have no choice but to take action to fight back. Therefore, China issued a new ban on October 20, which will temporarily control the export of graphite resources from December and restrict the export of these resources to unfriendly countries. In fact, South Korea and Japan became one of the first countries to panic after China announced its graphite export restrictions. The main reason is that in 2022, the total value of South Korea’s imported artificial and natural graphite for battery anode materials is US$241 million, of which 93.7% comes from China. Similarly, for Japan, China’s graphite restrictions have also had a considerable impact. Japan is a relatively resource-poor country. According to statistics, Japan’s artificial graphite and natural graphite imported from China accounted for as high as 80.7% in 2022. Although Japan and South Korea immediately opposed China’s ban, China’s restrictions on graphite resource exports actually make Europe and the United States the biggest victims in this resource war. So, in today’s video, we’re going to look at why did China suddenly issue this lockdown? Once implemented, what impact will it have on Western countries? ----------------------------------------------