China’s Ministry of Commerce announced the export order on Monday, barring Chinese companies from exporting “dual-use” items that can be used for civilian or military purposes to the US firms.The list of companies includes rare-earth mine operator MP Materials Corp, rare-earth magnet maker USA Rare Earths, and US defence contractors specialising in fields such as aerospace, drones, synthetic-aperture radar, and shipbuilding and repairs.
Under the order, “foreign institutions and individuals worldwide are also prohibited from transferring or providing Chinese dual-use goods to them” while ongoing export transactions must be suspended immediately.