US Supply Chain
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China Rare Earth Magnet Exports to US Decline Again, Erasing Rebound
China’s rare earth magnet exports to the US saw a significant 28.7% drop in September, signaling potential trade escalations. Stricter export license enforcement in China and its dominance in global rare earth production (90%) raise concerns about US supply chain vulnerabilities. This decline prompts US and allied initiatives to diversify rare earth sources, including a US-Australia minerals agreement and the Noveon Magnetics-Lynas Rare Earths partnership. Building a comprehensive, competitive rare earth magnet industry, however, requires significant investment and technological advancement.
