China Expands Rare Earths Export Curbs Amidst Global Supply Tensions
China has tightened export restrictions on rare earth materials and equipment, impacting global producers. This move aims to bolster its control over the supply chain, affecting industries reliant on these crucial elements. The restrictions may accelerate efforts to diversify supply chains in the U.S. and Europe.
China has imposed stricter export restrictions on rare earth elements and related equipment, increasing global supply chain tensions. The move comes ahead of an upcoming meeting between Presidents Donald Trump and Xi Jinping.
As the world's leading producer of processed rare earths, China controls over 90% of the market. The newly announced restrictions add five more elements to the list, bringing the total to 12 and affecting various industries, from electric vehicles to military applications.
Experts suggest China's latest policies aim to reinforce its dominance over the global supply chain. The restrictions require global producers who use Chinese rare earth materials or equipment to seek approval for sales, potentially accelerating diversification efforts in other regions.
(With inputs from agencies.)
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