China Tightens Mineral Controls; Automakers Look for Alternates

China Tightens Mineral Controls; Automakers Look for Alternates

China’s export of rare earth magnets to the United States dropped 58.5% year on year to 246 metric tons in April, when trade tensions due to export controls were at their highest. China supplies 92% of the refined rare earth elements that are used in the production of electronics, electric vehicles, and defense systems, enabling it to control the market. It applied export controls for rare earths when President Trump issued 145% tariffs, now red…