Urgent Call to Address China's Mineral Export Restrictions

An organization representing auto suppliers in the United States issued an urgent appeal on Wednesday, highlighting the critical need for action as China's restrictions on rare earth and other mineral exports begin to impact the sector.

The MEMA - Vehicle Suppliers Association warned that parts companies are encountering 'serious, real-time risks' that threaten their supply chains. The association's statement underscored the urgency to resolve the issue swiftly.

'The situation remains unresolved, and the level of concern is very high,' the group asserted. It further emphasized that 'immediate and decisive action is needed to prevent widespread disruption and economic fallout across the vehicle supplier sector.'

(With inputs from agencies.)