The US has reportedly decided not to impose tariffs on rare earths and other key minerals from China because of its high dependence on them.

Last week, the office of Robert Lighthizer, the US trade representative, released a new US$300 billion list of Chinese goods for use in the next round of tax increases, which also excluded rare-earth materials.

Rare-earth materials are widely used in consumer electronics and military equipment. They are also the few products unaffected by the US tariffs, and China is the world's largest producer.

However, China raised tariffs on US$60 billion worth of US goods, including rare earth minerals, in response to the US tax increase on Chinese goods.

According to Wang Yi, Chinese Foreign Minister, China's move was not only to safeguard its own rights and interests, but also to safeguard the basic rules of the multilateral trading mechanism.