Observers and business leaders suggest Europe should prepare for Beijing to ramp up this economic lever.

Beijing announced its first controls on the technology used to mine and process the minerals, citing the potential threat to national security.

China tightens export controls on rare earths and related technologies to safeguard national security, impacting global supply chains.

Observers and business leaders suggest Europe should prepare for Beijing to ramp up this economic lever.

Move is a strategic one ahead of new round of tricky trade talks with the United States.