China’s spy agency has accused overseas intelligence agencies of stealing controlled rare earth materials, reiterating its intent to curb smuggling even as Beijing agrees to review applications to export the vital industrial resource after trade talks with the US.

The moves by Apple and the Pentagon are part of a broader U.S. push to nearshore rare earth supply chains. Earlier this year, President Trump proposed annexing Greenland, an autonomous Danish territory estimated to contain $4.4 trillion worth of rare earth reserves. Vice President JD Vance made a surprise visit in support of the plan.

Just four months into his tenure at the Pentagon, private equity billionaire Steve Feinberg has landed his first big deal: a $400 million bet on the US’s only miner of rare-earth elements, a key commodity in the rivalry with China.

In first half of 2025, exports reach US$6.7 million, which analysts view as sign of China’s bid to diversify access to strategic minerals.

China's rare earth export curbs disrupt India's electric vehicle (EV) ambitions, sparking urgent policy shifts and efforts to reduce dependency through domestic production and alternative sourcing.

China has put export restrictions on technologies critical for producing electric vehicle batteries, in a move to consolidate its dominance in the sector that has contributed to the country’s lead in the global EV race.

China's exports growth beat expectations in June as businesses continued to divert shipments to non-U.S. markets while shunning the U.S. despite a tariff reprieve.