Market Chatter: MP Materials, USA Rare Earth Hit by China's Latest Trade Curbs

MT Newswires Live06-22 17:24

MP Materials (MP) and USA Rare Earth (USAR) were among 10 US companies added to China's export control list on Monday, while 46 firms, including units of Lockheed Martin (LMT), RTX (RTX) and Boeing (BA), were excluded from Chinese government procurement, The Wall Street Journal reported Monday.

China's Commerce Ministry said exports of Chinese dual-use products to the targeted companies would be banned immediately on national security grounds, with the measures affecting firms in the defense, aerospace, drone and robotics sectors, according to the report.

Separately, China barred 46 US companies from government procurement in what analysts viewed as a largely symbolic response to the Pentagon's recent expansion of its blacklist of Chinese firms with alleged military ties, the report added.

MP Materials and USA Rare Earth did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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