China slapped the U.S. with a big one. As part of this trade war (and increasing reciprocal tariffs), China has placed controls on the export of rare earth minerals and magnets, many of which are critical in the supply chain and manufacturing pipeline of technology products.
China dominates the extracting and refining of these rare earth minerals which the U.S. is heavily reliant on (70% comes from China) across multiple industries including military (missiles and radars), tech (smartphone components), and the automotive industry (components) to name a few. This will be something with a latent effect (on top of the tariffs which will cause the prices of many Chinese manufactured products to go through the roof in the next several months).
This regimes adverserial and hostile stance will likely also make it more challenging for the U.S. to negotiate deals with other countries for additional sources. The country has yet to feel even the start of the economic pain that will take place from this irresponsible regimes trade war.
