A new cold war is brewing over rare earth minerals

China has implemented new export controls for rare earth minerals and magnets.

The changes could upend the shift to electric vehicles.

China is leveraging its position as the world’s largest producer, at the expense of the U.S. automakers.

Companies like Tesla , GM and Ford have already said they are feeling the pinch as supplies tighten.

The heightened trade war with China will only make things worse for automakers.

Companies like Niron Magnetics are developing alternative magnet chemistries that use iron nitride instead of rare earths.

Finding materials scientists for overseas operations is much easier because of more friendly immigration policies in other countries.

There are very few American universities that offer programs in magnetic science and the strength of the US high magnetic field science is waning.

The deal still requires ratification by Ukraine ’s parliament, but under the terms, Ukraine retains full ownership of its resources and profits from the mining, and the US gets preferential access (and rights) to extract rare earths and other critical minerals like titanium, lithium, and uranium.

Back in 2010 , China restricted rare earth exports to Japan following a maritime dispute, which caused a global panic and increased prices for materials and magnets.