Global Automakers Now Facing China’s Rare-Earth Magnet Export Curbs

Global automakers are raising alarms over China’s restrictions on rare-earth magnet exports, critical for components like motors, sensors, and power steering. A trade group representing major automakers warned U.S. officials in a May 9 letter that without reliable access to these materials, production lines could face disruptions or shutdowns within weeks. The issue was discussed in recent U.S.-China trade talks, but concerns persist as China’s April export curbs, affecting over 90% of global magnet processing, threaten supply chains worldwide. The restrictions are seen as leverage in the ongoing U.S.-China trade war, prompting fears of economic impacts.

Rare-Earth Magnet

Business News