Reported 2 days ago
The automotive industry is facing a significant threat due to China's recent restrictions on rare-earth exports, which are crucial for producing key components in car manufacturing. Leaders from major automakers, including GM and Toyota, have expressed concerns to the Trump administration about potential shortages of rare-earth magnets. These components are essential for various automotive applications, and without reliable access, factories may face production disruptions or even shutdowns. The restrictions, which have complicated the licensing process for exporters, could have serious ramifications for U.S. vehicle production if the situation remains unresolved.
Source: YAHOO