A group representing auto suppliers in the United States called on Wednesday for immediate action to address China's restricted exports of rare earths, minerals and magnets, warning the issue could quickly disrupt auto parts production.
China, which controls over 90% of global processing capacity for rare earths used in everything from automobiles and fighter jets to home appliances, imposed restrictions in early April requiring exporters to obtain licenses from Beijing. The tighter restrictions followed the opening of a trade war between the U.S. and China after President Donald Trump imposed tariffs on Chinese imports.
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