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China's new export controls on rare earth minerals are severely impacting the US, which relies heavily on China for these materials crucial for high-tech and defense industries. China's near-monopoly on rare earth extraction and processing, cultivated through decades of strategic investment, gives it significant leverage in the trade war. The US, facing potential shortages and production delays, is now investigating national security risks and seeking ways to boost domestic production, though this will require substantial investment and technological advancements. The restrictions affect various sectors, from defense equipment like F-35 jets to consumer electronics.

Prepared by Christopher Adams and reviewed by editorial team.