China is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said on Saturday.

China’s new restrictions on rare earth exports have caused significant supply chain disruptions and price instability in global markets, impacting industries like automotive, renewable energy, and defense.

The rare-earth miner MP Materials will enjoy growing strategic value to the U.S., as geopolitical tensions with China make the supply of critical minerals more uncertain, according to Morgan Stanley.

China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions.

China has approved temporary export licenses to rare-earth suppliers of the top US automakers, Reuters reported on Friday, citing unidentified people familiar with the matter.

Major manufacturers, fearful they will have to shut down assembly lines, are considering moving some production of parts to China.

Gracelin Baskaran, Center for Strategic and International Studies director of the critical minerals security program, and Wells Fargo's Colin Langan, join 'Power Lunch' to discuss the latest impact of China's rare earth restrictions.

Stillwater, Oklahoma — Buried on Round Top Mountain in a remote part of West Texas are rare earth minerals, the metals that could power America's future. Rare earths are a group of 17 elements used in many of the world's most advanced technologies, including semiconductors, electric cars and guided missiles used by the military.