22-June-2026
Corporate News
 
China Targets US Rare Earth and Other Firms With Export Controls
22-Jun-2026

China added MP Materials and USA Rare Earth as well as eight other U.S. entities it said are linked to the U.S. military to its export control list in retaliation for Washington placing several Chinese companies under restrictions this month. Aveox, a motor manufacturer for mission-critical applications, was also among those placed on the list, which halts Chinese dual-use exports to the companies. Pentagon-backed MP Materials, which operates the only active rare earth mine in the U.S., and USA Rare Earth are both involved in the mine-to-magnet supply chain. The three U.S. companies were not available for comment outside of business hours. The measures are a response to the "U.S. government's malicious practice" and were taken to safeguard national security and interests, as well as to fulfil international obligations such as non-proliferation, China's Commerce Ministry said in a statement on Monday. "Organisations and individuals in any country or region are prohibited from transferring or supplying dual-use items originating in China to those entities," it said, adding that export activities should be stopped immediately.

News Source:- https://money.usnews.com/investing/news/articles/2026-06-21/china-targets-us-rare-earth-and-other-firms-with-export-controls