Former U.S. President Donald Trump has threatened to impose tariffs of 200% or higher on Chinese goods unless Beijing increases its supply of magnets to the United States. According to Al Jazeera, China remains highly sensitive about rare earth elements. In April, Beijing restricted exports of several rare minerals and magnets in retaliation to Washington’s tariff hikes. Currently, China controls about 90% of the global magnet market. Meanwhile, Intel Corporation has announced that it will acquire a 10% stake in the U.S.-based semiconductor giant, which heavily relies on rare minerals. Interestingly, despite restrictions, China’s rare earth exports have reportedly increased in recent months.