🇨🇳 China has just announced immediate export controls on seven critical rare earth elements – samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium – a move that could ripple through global tech and green energy sectors. 🛑💡
The Ministry of Commerce stated the measures aim to 'safeguard national security and interests' while meeting international non-proliferation standards. A spokesperson emphasized that such controls are a 'common practice' for dual-use items, which have both civilian and potential military applications. 🛠️🌱
⚡ Why it matters: These elements are vital for producing everything from smartphones to electric vehicles and wind turbines. With China supplying over 70% of the world's rare earths, industries worldwide may feel the pinch. Analysts say this could accelerate efforts by tech giants to diversify supply chains. 📱🔋
🌍 The spokesperson added China remains open to 'bilateral dialogues' to streamline compliant trade. The announcement comes as countries rush to secure materials for AI development and clean energy transitions. Will this spark new collaborations or trade tensions? Stay tuned. 🤝⚖️
