Tax is often used as a leverage in power politics, always has, always will. Internationally I see China is considering a change to the way it taxes rare earths exports. This matters globally as rare earths are a group of metals vital for making many electronic devices and China is the dominant world supplier. Since 2010 China has used export tariffs and quotas to exert control. But the US, EU and others cried foul to the World Trade Organisation (WTO) which found against China. The decision is under appeal, but China is planning a back-up to keep control by taxing on producers based on value not tonnage. One cannot fault the Chinese approach, which is exactly as any other country would do in the same position. Tax fans might wonder if the US and EU scored an own goal though by souring international relations for no gain.
Tax Barrister, Accountant