President Trump is set to hold talks with Chinese President Xi Jinping, at a time when Beijing has tightened export controls on rare earth minerals. The restrictions threaten to make it harder for U.S. defence and technology firms to get the raw materials they need.
Breakdown
- China imposes export controls on seven rare earth minerals crucial for U.S. industries. 9s
- The restrictions affect 16 U.S. companies, mainly in defense and aerospace. 46s
- Rare earths are vital for products like smartphones, electric cars, and military equipment. 27s
- The U.S. lacks domestic processing facilities and relies on China for refining rare earths. 1m 8s
- China controls 92% of global rare earth processing, maintaining a near monopoly. 1m 21s
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