Deep Analysis · Asia

Key Facts

—The move. On June 22, 2026, China (MOFCOM Announcement No. 23) added 10 US firms to its export-control list, including MP Materials and USA Rare Earth.

—The target. Those two are the very companies Washington funded to break China’s grip — the spear point of US rare-earth independence.

—The dominance. China controls about 60 percent of global rare-earth mining, 90 percent of processing, and 94 percent of the world’s magnets.