Auto industries in both the US and Europe may come to a standstill within a week thanks to China’s ongoing sanctions on rare earth minerals and the export of magnets. Many European car part manufacturers have already stopped production lines according to the European Association of Automotive Suppliers (CLEPA).

Companies that now want to export materials, now require licenses, and which are difficult to come – Nikki Reports Only 25 percent of requests have been approved. As the new York Times It was on an impact, waiting for the production to resume during the stoppage of production with some magnet manufacturers in China, which can lead to a greater decrease in future.

This is a problem for many industries, including Robotic And defense, especially with auto manufacturers at risk. Rare Earth Magnets are essential for hybrids and EV motors, but are also found in everything from catalyst converters to car seats. Many times Reports states that American auto officials are warning that production may be cut back within weeks, while after A. Warning last week agoMany European part suppliers have already started to prevent work.

“With a depth global supply chain, China’s export restrictions are already shutting out production in Europe’s supplier region,” said, Benjamin Chryger, General Secretary of CLEPA, said, said, In a statement“We immediately call both the European Union and Chinese authorities to engage in a creative dialogue to ensure that the licensing process is an alliance with transparent, proportional and international norms.”