On Tuesday, the Trump administration released a fact sheet detailing an executive order aimed at reviewing any national security risks associated with dependence on foreign imports of rare earth minerals.

The fact sheet stated, “China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions.” This includes a 125% reciprocal tariff, a 20% tariff addressing the fentanyl crisis, and Section 301 tariffs on specific goods, which range from 7.5% to 100%.

In response, China has increased its tariffs on U.S. imports to 125%, up from 84%. Additionally, on April 4, China began restricting exports of rare earth materials to the U.S., which are essential for high-tech products like computer chips and electric vehicle batteries.