Crank up mining royalties on Iron ore, page-191

We export about 800 million ton of IO to China at present and, IMO, it will take China at least 5 years to develop alternative supplies and
that will be from Africa, Russia and its other BRI partners. This is why we have to use IO now as a bargaining chip while it gives us massive leverage; more so than China's access to US markets in the Trump deal last January.