Reported 2 days ago
The ongoing struggle for rare earth elements escalates as China, controlling 70% of global supply, tightens its export restrictions, causing disruptions in industries like auto manufacturing. Previously imposed tariffs have led to China's retaliatory measures, resulting in shortages that threaten production for major companies such as Ford and Mercedes-Benz. This situation has prompted urgent calls from global leaders for reduced reliance on Chinese rare earths, while the U.S. is investing in domestic production and seeking access to resources in Ukraine amid these supply challenges.
Source: YAHOO