China has suspended exports of critical components:
China has suspended exports of critical components such as rare earth magnets used in cars, drones, robots, and missiles at several of its ports.Rare earth magnets are high-performance permanent magnets made primarily from rare earth elements such as Neodymium (Nd), Samarium (Sm), and Dysprosium (Dy).China controls over 80% of the global rare earth refining capacity, giving it significant leverage in the global supply chain.The strategic importance of rare earth magnets makes them a critical component for both civilian industries and military applications, making supply chain security a concern for nations dependent on imports, especially the United States.
