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What’s at stake in Trump’s China negotiations: Shortages of cars, electronics and MRIs
Call it a “chip shortage on steroids.”
China has a virtual monopoly on those 17 metallic elements, which are critical components to everyday products from cars to jet engines to electronics like smartphones and flat-screen TVs. And, recently, China made it even harder to get them: The country introduced a new licensing requirement on the export of the elements in April, effectively slowing the flow of outbound shipments to most of the world, including the United States. Reuters, citing sources with knowledge of the situation, reported that suppliers of major American carmakers – including General Motors, Ford and Jeep-maker Stellantis – were granted temporary export licenses for rare earths, but only for a period of up to six months.
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