The Chinese government has announced it will stop exporting six rare earth elements and specific powerful rare earth magnets, vital for high-tech industries like automotive and military technology. This decision, which impacts 90% of global production, pushes countries like the US and Europe to expedite their hunt for reliable alternative suppliers. The EU's strategic dependence on US imports for various critical materials showcases the urgency and complexities of global supply chains amidst new regulatory measures from China.
The Chinese government is set to halt exports of six rare earth elements, which will significantly affect high-tech sectors, including military equipment.
China's export restrictions are prompting a global race to secure alternative supplies, highlighting a growing dependence on these critical raw materials.
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