'Plenty Of Cards To Play': Chinese Media Suggest Cutting Rare Earth Exports To U.S.

China is ready to capitalize on its dominance as an exporter of rare earth minerals by cutting its exports to the U.S., Chinese media reported Wednesday.

Rare earths are a group of elements with unique properties that are used in cell phones, hybrid cars and cancer treatment. They also play an important role in U.S. defense, from computers to aircraft engines.

"Waging a trade war against China, the United States risks losing the supply of materials that are vital to sustaining its technological strength," began a commentary published Wednesday in the Communist newspaper People's Daily.