China Imposes New Export Curbs on 10 US Rare Earth, Defense Companies

China’s Finance Ministry also barred government entities from purchasing goods from 46 U.S. companies.

The Chinese Ministry of Foreign Affairs building in Beijing on Dec. 1, 2022. Noel Celis/ AFP via Getty Images

China’s Commerce Ministry announced on Monday new export restrictions on 10 U.S. rare earth and defense companies after the Pentagon flagged several Chinese companies it believed were aiding the Chinese military.

The companies targeted by the export controls include rare-earth miners MP Materials Corp and USA Rare Earth, motor manufacturer Aveox, and defense technology companies Red Cat Holdings and its subsidiary Teal Drones.