China’s Rare Earth Magnet Exports Surge After U.S. Trade Truce
China dramatically increased its rare earth magnet exports in June—up 158% overall and more than 7x to the U.S.—following a trade truce aimed at easing global tensions.
While this surge brings some relief after months of export controls, shipments are still well below historic averages. China produces 90% of the world’s rare earth magnets, vital for everything from EVs to fighter jets.
The recent squeeze pushed the U.S. and EU to scramble for alternative sources, including new investments in domestic production. Meanwhile, tensions persist with India and Europe, as licensing backlogs and political concerns remain unresolved.
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