Apple has struck a landmark $500 million deal with MP Materials for the supply of rare earth magnets, in a strategic move that underscores how geopolitical tensions and China’s tightening grip on critical minerals are reshaping global tech supply chains. The agreement not only marks a major coup for MP Materials, which operates the only rare earths mine in the United States, but also reflects Apple’s broader push to secure its supply lines against future disruptions.

This deal comes just days after MP secured a multibillion-dollar agreement with the U.S. Department of Defense, which will see the Pentagon become its largest shareholder. Together, these two deals have nearly doubled MP’s stock price in under two weeks, transforming a company that last year was considering merging with an Australian rival after profits collapsed under low China-set rare earth prices.

India’s ambitious goal of becoming a global manufacturing powerhouse faces a critical challenge: a lack of expertise in manufacturing key components like display screens and camera modules, areas where Chinese suppliers dominate. To achieve its target of tripling electronics exports to $300 billion…

China’s petrochemical industry faces renewed uncertainty as the United States imposes new licensing requirements for exports of ethane and related products to China, effectively disrupting a key energy trade channel. The move, part of a broader tightening of U.S. export controls, threatens to stall critical feedstock deliveries for Chinese chemical producers already heavily reliant on American supplies.

The U.S. Commerce Department has directed exporters to obtain special licenses before shipping ethane and butane to China and has also revoked some licenses previously granted. The abrupt change could severely disrupt trade flows, as China purchased an average of 492,000 barrels per day (bpd) of U.S. ethane in 2024 — nearly half of total U.S. ethane exports — according to data from the U.S. Energy Information Administration.