Core Viewpoint - China's control over rare earth elements is a significant leverage against the United States, as the U.S. heavily relies on Chinese imports for critical military and industrial applications [1][4][5]. Group 1: Rare Earth Elements - The U.S. depends on China for 90% of its high-performance magnetic materials and 97% of its medium and heavy rare earth elements, making it difficult for the U.S. to reduce this dependency in the short term [4]. - Key military equipment such as the F-35 fighter jet and M1 tank rely on components that require Chinese rare earths, highlighting the strategic importance of these materials [4]. - China's advanced technology in rare earth separation and purification further solidifies its dominance in this sector, as even U.S. mining operations often send extracted rare earths back to China for processing [4][5]. Group 2: Soybean Trade - China is the world's largest soybean importer, accounting for nearly 60% of global trade, with significant imports from the U.S. [7][9]. - In 2024, China is projected to import 105 million tons of soybeans, with 22.13 million tons coming from the U.S., representing 42% of total U.S. soybean exports [9]. - Following the imposition of a 34% tariff on U.S. goods by China in response to U.S. trade policies, U.S. soybean exports to China have drastically decreased, leading to the lowest export levels in nearly 20 years [9][12]. Group 3: Market Dynamics - The U.S. soybean market is under pressure as Chinese importers have not committed to purchasing U.S. soybeans for the upcoming season, raising concerns among American farmers [12][14]. - China's shift to sourcing soybeans from South America, particularly Brazil and Argentina, has been facilitated by the increased tariffs on U.S. soybeans, making U.S. soy less competitive [14][15]. - The U.S. soybean industry is urging the government to negotiate with China to restore trade relations, emphasizing the critical role of China in the U.S. soybean export market [16].

Group 1 - China controls 84% of global tungsten production, while the US only accounts for 0.8%, highlighting a significant disparity in supply chain security for critical materials [1][3] - Tungsten is essential for advanced military systems and high-end semiconductor production, making its supply critical for the US and its allies [3][9] - The recent export control measures by China have led to a 120% surge in tungsten prices within 24 hours, causing immediate concerns in the global military and industrial sectors [5][19] Group 2 - The US has a dependency rate of over 35% on tungsten imports, with nearly 100% reliance on high-end tungsten products, indicating a vulnerability in its supply chain [9][23] - China's strategic shift from being a raw material supplier to controlling the entire tungsten industry chain has been a gradual process over the past 40 years, culminating in significant technological and regulatory advancements [11][18] - The establishment of an export control system for tungsten in 2025 reflects China's comprehensive approach to managing its resources and influencing global supply chains [18][29] Group 3 - The US response to China's export controls includes a $5 billion investment in a critical mineral strategic reserve project, but challenges remain in sourcing alternative tungsten supplies [19][21] - Japan and South Korea are actively seeking alternatives to tungsten, but current materials cannot fully replace tungsten's unique properties, leading to urgent discussions on supply chain resilience [25][27] - The global industrial landscape is shifting, with China emerging as a rule-maker rather than just a supplier, prompting Western nations to reconsider their supply chain strategies [33][39]