US-based miner MP Materials and Saudi Arabia’s Maaden have taken the first step in developing an alternative supply chain for the production of rare-earth magnets — 90 percent of which come from China,

China trade deal was announced, significantly de-escalating the tariff war that has roiled the global economy.

China has temporarily lifted export restrictions for 28 American companies following a trade agreement with the USA. However, key export restrictions on seven rare earth metals remain in effect. China has temporarily eased export restrictions for 28 American companies as part of a trade agreement with the Trump administration.