US Edition
Ford Still Struggling with Rare Earth Supplies
- Ford Motor Co. CEO Jim Farley said on June 13 that rare earth supply shortages forced factory shutdowns, including a week-long halt in Chicago in May.
- The shortages stem from China's April export licensing rules that tightened rare earth material flows to Western manufacturers like Ford.
- Farley explained to Bloomberg that Ford has applications in China's MOFCOM that are being approved only one at a time, prolonging supply difficulties.
- China dominates the processing of rare earth minerals worldwide, and on June 11, it agreed to restart regular shipments to the United States, helping to alleviate some of the tensions surrounding supply disruptions.
- Farley remains optimistic about trade talks progress and hopes supply constraints will ease soon, but warns the situation could become a larger issue for Ford.
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Bloomberg News CEO: Ford has a shortage of rare-earth magnets
·New York, United States
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These raw materials, essential for the automotive industry, have become one of the axes of the tariff negotiations between the big economic powers USA and China reach an agreement principle to de-escalate the trade war They are essential raw materials for various industrial and technological sectors and have become currency in the trade and tariff negotiations. China decided in April to put limits on exports of the so-called rare earths and that…
·Spain
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Coverage Details
Total News Sources16
Leaning Left6Leaning Right1Center4Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 36%
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