Taliban condemns terror attack in Pahalgam, says it ‘weakens regional security efforts'
In a statement, the Taliban-ruled Afghanistan's Foreign Ministry Spokesman Abdul Qahar Balkhi said, 'The Ministry of Foreign Affairs of the Islamic Emirate of Afghanistan categorically condemns the recent attack on tourists in the Pahalgam region of Jammu and Kashmir, and expresses condolences to the bereaved families.'
Balkhi said 'such incidents undermine efforts to ensure regional security and stability.'
This is a breaking news report, more details are being added
First Published: 24 Apr 2025, 06:24 AM IST
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Hindustan Times
an hour ago
- Hindustan Times
China Is Choking Supply of Critical Minerals to Western Defense Companies
China is limiting the flow of critical minerals to Western defense manufacturers, delaying production and forcing companies to scour the world for stockpiles of the minerals needed to make everything from bullets to jet fighters. Earlier this year, as U.S.-China trade tensions soared, Beijing tightened the controls it places on the export of rare earths. While Beijing allowed them to start flowing after the Trump administration agreed in June to a series of trade concessions, China has maintained a lock on critical minerals for defense purposes. China supplies around 90% of the world's rare earths and dominates the production of many other critical minerals. As a result, one drone-parts manufacturer that supplies the U.S. military was forced to delay orders by up to two months while it searched for a non-Chinese source of magnets, which are assembled from rare earths. Certain materials needed by the defense industry now go for five or more times what was typical before China's recent mineral restrictions, according to industry traders. One company said it was recently offered samarium—an element needed to make magnets that can withstand the extreme temperatures of a jet-fighter engine—for 60 times the standard price. That is already driving the cost of defense systems higher, say suppliers and defense executives. The squeeze on critical minerals highlights how dependent the U.S. military is on China for much of its supply chain—giving Beijing leverage at a time of rising tensions between the two powers and heated trade negotiations. Defense manufacturers supplying the U.S. military rely on minerals that are mainly produced in China for microelectronics, drone motors, night-vision goggles, missile-targeting systems and defense satellites. While companies have tried to find alternative sources of these minerals in recent years, some of the elements are so niche that they can't be economically produced in the West, say industry executives. China's Foreign Ministry didn't respond to a request for comment. In addition to the more recent export controls on rare earths, China has since December banned sales to the U.S. of germanium, gallium and antimony—which are used for things like hardening lead bullets and projectiles, and to allow soldiers to see at night. Some companies now warn of looming production cuts if more minerals aren't forthcoming. On Wednesday, the chief executive of Leonardo DRS said the U.S.-based defense firm is down to its 'safety stock' of germanium. 'In order to sustain timely product deliveries, material flow must improve in the second half' of 2025, CEO Bill Lynn said on a conference call. The company is the U.S. subsidiary of Italian defense giant Leonardo. Germanium goes into the company's infrared sensors, which are used in missiles and other equipment. Lynn said that the company is looking at diversifying its supply chain while also finding ways to replace it in its products. The Pentagon is requiring defense contractors to stop buying rare-earth magnets that contain China-sourced minerals by 2027. As a result, some companies have sizable stockpiles of magnets. But suppliers and defense companies often hold less than a year's worth—some just a few months—of many other critical mineral stockpiles. Drone manufacturers are among the most vulnerable, because many are small startups and have very limited revenue or supply-chain savvy, and never got around to acquiring large stockpiles of rare-earth magnets and metals, say some in the defense industry. A drone flies overhead during a military parade in Washington, D.C., in June. 'I can tell you…we talk about this daily and our companies talk about it daily,' said Dak Hardwick, vice president of international affairs at the Aerospace Industries Association, a U.S. defense and commercial aerospace trade group. More than 80,000 parts that are used in Defense Department weapons systems are made with critical minerals now subject to Chinese export controls, according to data from defense software firm Govini. Nearly all of the supply chains for key critical minerals used by the Pentagon rely on at least one Chinese supplier, Govini said, meaning restrictions from Beijing can cause widespread disruptions. Since stepping up export controls earlier this year, China has begun requiring companies to provide extensive documentation of how they will use the rare earths and magnets they import. Chinese regulators often demand sensitive information, such as product images and even photos of production lines, to ensure none of the materials go to military use, say Western buyers. One Western company that supplies Chinese-made rare-earth magnets to both civilian and defense companies says its requests for imported magnets have recently been approved for many civilian purposes—but rejected or delayed for defense and aerospace. In May, New Hampshire-based ePropelled, which makes propulsion motors for drones, received unsettling questions from its Chinese magnet supplier. The supplier sent Chinese government forms demanding drawings and pictures of ePropelled's products and a list of buyers. It also asked for assurances that the rare-earth magnets China would supply ePropelled wouldn't go toward military applications. 'Of course we are not going to provide the Chinese government with that information,' said Chris Thompson, vice president of global sales for ePropelled. The company has about 100 customers, including large American defense contractors and drone manufacturers in Ukraine. So its Chinese suppliers paused shipping, and ePropelled had to delay some customer orders by one or two months—double the amount of time it usually takes to deliver its motors. The company sought alternative suppliers in the U.S., Europe and Asia, including buying magnets from vendors in Japan and Taiwan, although they too rely on rare earths from China. The company also struck deals with startup magnet producers Vulcan Elements in North Carolina and Oklahoma-based USA Rare Earth. However, those startups won't have supply ready for ePropelled until at least the end of this year and will need to build up alternative sources of Chinese-dominated minerals as they scale up production. Metal traders say that because China demands to know the end user of rare-earth magnets and metals, it isn't approving licenses for traders to stockpile. The Department of Defense has awarded grants to expand production of niche materials, including $14 million in funding last year to a Canadian company to produce germanium substrates used in solar cells for defense satellites. In July, the Pentagon took an even bigger step when it agreed to pay $400 million for 15% of MP Materials, the operator of the largest rare-earths mine in the Americas, which is rapidly scaling up its magnet manufacturing capacity. The Pentagon didn't respond to a request for comment. Reporters gather outside the London venue of U.S.-China trade talks in June. On an earnings call last month Lockheed Martin CEO James Taiclet called the MP Materials agreement groundbreaking and said it would help ensure the supply of magnets needed in its F-35 jet fighters and cruise missiles. But building up new supply will take time. The Defense Department early last year established the Critical Minerals Forum, an effort in part to spur more mineral supply-chain projects in the U.S. and allied countries, including helping metals miners secure funding to increase their output of critical materials like antimony and germanium. Defense companies that traditionally outsourced the purchase of critical minerals to sub-suppliers are now using their market heft to try to acquire sources of key materials themselves. Major defense companies 'are starting to get more and more panicked as they go, because they recognize that they're just not going to get the magnets, no matter what happens, unless they get involved,' said Nicholas Myers, the CEO of Phoenix Tailings, a Massachusetts startup that produces rare-earth metals. Beijing is signaling that it takes its mineral export bans very seriously. Earlier this year, one U.S. defense supplier, the United States Antimony Corporation, tried to ship 55 metric tons of antimony mined in Australia to its smelter in Mexico. The load transited via the Chinese port city of Ningbo—until recently a routine practice. But in April, while the shipment was being transloaded in Ningbo, China customs detained it for three months, prompting United States Antimony to ask the State Department and White House for help. The Chinese released the shipment in July, on the condition that it be sent back to Australia and not to the U.S. When it arrived in Australia, United States Antimony learned that product seals had been broken. It is currently working out whether the antimony has been tampered with or contaminated. 'The shipping company, everyone who was involved, they'd never seen this happen before,' said company CEO Gary Evans. Neither the White House, the Defense Department nor the State Department provided comment. Write to Jon Emont at Heather Somerville at and Alistair MacDonald at
Time of India
2 hours ago
- Time of India
US market curbs to hit India's manufacturing ambitions, but domestic demand to stay strong: Moody's
Moody's Ratings on Monday said curtailed access to the US market will diminish prospects for India to develop its manufacturing sector, but the country's domestic demand will remain resilient to these external pressures. US President Donald Trump has announced a 25 per cent duty on imports from India, which will come into effect from August 7 (9.30 am IST). These will be over and above the existing standard import duty in the United States. Explore courses from Top Institutes in Please select course: Select a Course Category others MCA Data Science Project Management Others Operations Management Digital Marketing Technology Management Design Thinking Data Science Product Management Public Policy healthcare Artificial Intelligence Cybersecurity MBA Data Analytics CXO Leadership Healthcare Finance Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details On top of the import duty, Trump has announced imposing a 'penalty' on India for Russian imports. However, the rate of penalty is yet to be announced. Moody's Ratings, Senior Vice President, Christian de Guzman said the revised tariff rate assessed on Indian goods is significantly above those from other major exporters in the APAC (Asia-Pacific) region, many of which have duty rates between 15 per cent and 20 per cent. "Curtailed access to the largest economy globally diminishes prospects for India's ambitions to develop its manufacturing sector, particularly in higher value-added sectors such as electronics," Guzman said. Live Events The higher tariffs relative to other countries also disadvantaged India as it vies for a greater share of trade and investment flows away from China, which has been subject to even more severe tariff treatment by the US, he added. India and the US are currently negotiating a bilateral trade pact. The US is India's largest trading partner, accounting for 18 per cent of India's total merchandise exports in 2024. The USD 80 billion merchandise exports from India to the US are distributed in sectors which also form India's overall major exports. Guzman said that we expect domestic demand to remain resilient to these external pressures as the Indian economy is less trade-reliant than other large economies in APAC. "Moreover, the favourable outlook for India's services sector, whose scope and scale are unrivalled in the region, remains intact as associated services exports do not appear to be a major point of contention in bilateral relations with the US," Guzman added.
NDTV
3 hours ago
- NDTV
China Keeps Buying Oil From Russia And Iran Despite US Pressure
Washington: US and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the US demand that China stop purchasing oil from Iran and Russia. "China will always ensure its energy supply in ways that serve our national interests," China's Foreign Ministry posted on X on Wednesday following two days of trade negotiations in Stockholm, responding to the US threat of a 100% tariff. "Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests," the ministry said. The response is notable at a time when both Beijing and Washington are signaling optimism and goodwill about reaching a deal to keep commercial ties between the world's two largest economies stable - after climbing down from sky-high tariffs and harsh trade restrictions. It underscores China's confidence in playing hardball when dealing with the Trump administration, especially when trade is linked to its energy and foreign policies. US Treasury Secretary Scott Bessent, emerging from the talks, told reporters that when it comes to Russian oil purchases, the "Chinese take their sovereignty very seriously." "We don't want to impede on their sovereignty, so they would like to pay a 100% tariff," Bessent said. On Thursday, he called the Chinese "tough" negotiators, but said China's pushback hasn't stalled the negotiations. "I believe that we have the makings of a deal," Bessent told CNBC. Gabriel Wildau, managing director of the consultancy Teneo, said he doubts President Donald Trump would actually deploy the 100% tariff. "Realizing those threats would derail all the recent progress and probably kill any chance" for Trump and Chinese President Xi Jinping to announce a trade deal if they should meet this fall, Wildau said. In seeking to restrict oil sales by Russia and Iran, a major source of revenue for both countries, the US. wants to reduce the funding available for their militaries, as Moscow pursues its war against Ukraine and Tehran funds terroist groups across the Middle East. When Trump unveiled a sweeping plan for tariffs on dozens of countries in April, China was the only country that retaliated. It refused to give in to US pressure. "If the US is bent on imposing tariffs, China will fight to the end, and this is China's consistent official stance," said Tu Xinquan, director of the China Institute for WTO Studies at the University of International Business and Economics in Beijing. WTO is the acronym for the World Trade Organization. Negotiating tactics aside, China may also suspect that the US won't follow through on its threat, questioning the importance Trump places on countering Russia, Tu said. Scott Kennedy, senior adviser and trustee chair in Chinese Business and Economics at the Center for Strategic and International Studies in Washington, said Beijing is unlikely to change its posture when it sees inconsistencies in US foreign policy goals toward Russia and Iran, whereas Beijing's policy support for Moscow is consistent and clear. It's also possible that Beijing may want to use it as another negotiating tool to extract more concessions from Trump, Kennedy said. Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Beijing now sees itself as "the one holding the cards in its struggle with Washington." He said Trump has made it clear he wants a "headline-grabbing deal" with Xi, "so rejecting a US demand to stop buying oil from Iran or Russia is probably not seen as a deal breaker, even if it generates friction and a delay." Continuing to buy oil from Russia preserves Xi's "strategic solidarity" with Russian President Vladimir Putin and significantly reduces the economic costs for China, Russel said. "Beijing simply can't afford to walk away from the oil from Russia and Iran," he said. "It's too important a strategic energy supply, and Beijing is buying it at fire sale prices." A 2024 report by the US Energy Information Administration estimates that roughly 80% to 90% of the oil exported by Iran went to China. The Chinese economy benefits from the more than 1 million barrels of Iranian oil it imports per day. After the Iranian parliament floated a plan to shut down the Strait of Hormuz in June following US strikes on Iran's nuclear facilities, China spoke out against closing the critical oil transit route. China also is an important customer for Russia, but is second to India in buying Russian seaborne crude oil exports. In April, Chinese imports of Russian oil rose 20% over the previous month to more than 1.3 million barrels per day, according to the KSE Institute, an analytical center at the Kyiv School of Economics. This past week, Trump said the US will impose a 25% tariff on goods from India, plus an additional import tax because of India's purchasing of Russian oil. India's Foreign Ministry said Friday its relationship with Russia was "steady and time-tested." Stephen Miller, White House deputy chief of staff and a top policy adviser, said Trump has been clear that it is "not acceptable" for India to continue financing the Ukraine war by purchasing oil from Russia. "People will be shocked to learn that India is basically tied with China in purchasing Russian oil," Miller said on Fox News Channel's "Sunday Morning Futures." He said the US needs "to get real about dealing with the financing of this war." Sen. Lindsey Graham, a Republican from South Carolina, is pushing for sanctions and tariffs on Russia and its financial backers. In April, he introduced a bill that would authorize the president to impose tariffs as high as 500% not only on Russia but on any country that "knowingly" buys oil, uranium, natural gas, petroleum products or petrochemical products from Russia. "The purpose of this legislation is to break the cycle of China - a communist dictatorship - buying oil below market price from Putin's Russia, which empowers his war machine to kill innocent Ukrainian civilians," Graham said in a June statement. The bill has 84 co-sponsors in the 100-seat Senate. A corresponding House version has been introduced, also with bipartisan support. Republicans say they stand ready to move on the sanctions legislation if Trump asks them to do so, but the bill is on hold for now.
