China’s new restrictions on rare earth exports have caused significant supply chain disruptions and price instability in global markets, impacting industries like automotive, renewable energy, and defense.

China on Saturday said it had granted approval to some applications for the export of rare earths, in a move that comes just ahead of fresh trade talks between Chinese and U.S. officials on Monday. China's strict export controls over rare earths has been a flashpoint in trade relations with the U.S.

The rare-earth miner MP Materials will enjoy growing strategic value to the U.S., as geopolitical tensions with China make the supply of critical minerals more uncertain, according to Morgan Stanley.

China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions.

Major manufacturers, fearful they will have to shut down assembly lines, are considering moving some production of parts to China.

Gracelin Baskaran, Center for Strategic and International Studies director of the critical minerals security program, and Wells Fargo's Colin Langan, join 'Power Lunch' to discuss the latest impact of China's rare earth restrictions.

China has signalled for more than 15 years that it was looking to weaponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise.

Stillwater, Oklahoma — Buried on Round Top Mountain in a remote part of West Texas are rare earth minerals, the metals that could power America's future. Rare earths are a group of 17 elements used in many of the world's most advanced technologies, including semiconductors, electric cars and guided missiles used by the military.