China is the world’s largest supplier and processor of rare-earth elements — which have become a key area of contention in the trade friction between the United States and China. In April, China responded to U.

US production of crucial components in electric vehicles, smartphones and fighter jets is set to expand rapidly in the coming years, as the Trump administration intensifies efforts to build up the critical mineral industry in the US.

China’s flows of rare-earth magnets to the US continued to recover in July — with volumes rising 76% month-on-month — after Beijing agreed to normalize exports as part of its trade truce with Washington.