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China halts exports of rare earth exports, sparking fears of shortages in critical industries | "Based on everything we are seeing, the critical inputs for our future supply chain are shut down"
The suspension comes as Beijing drafts a new regulatory framework for issuing export licenses, a process expected to restrict access to these vital materials for specific companies,...
Daniel Pickard, chairman of the critical minerals advisory committee for the US Trade Representative and Department of Commerce, warned of severe impacts on American industries if the export restrictions persist. Refineries near Longnan process these ores before sending them to magnet factories in Ganzhou, including JL Mag Rare-Earth Company, which supplies leading electric vehicle manufacturers like Tesla and BYD. Xi Jinping's visit to JL Mag's factory in 2019 was widely interpreted as a signal that China could leverage its control over rare earths during trade disputes – a tactic it is now employing against the backdrop of heightened tensions with Washington following President Trump's tariff hikes earlier this month.
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