🚨🇨🇳 China has nearly shut off the rare earths spigot to the United States, despite the truce signed between Trump and Xi in October. The agreement promised uninterrupted flows. Chinese customs report the opposite. Average monthly exports of magnets to the U.S. in the first half of 2026: 479 tons—22% below the 2022–2024 average and the lowest level since 2021. Meanwhile, China’s magnet exports to the rest of the world are at record levels: the spigot isn’t broken—it’s politically turned off, exclusively for Washington. Beijing controls over 90% of global production, essential for electric vehicle motors and defense systems. 🎯 For your portfolio: Targeted shortages have become a sustainable policy, not a negotiation accident. The market doesn’t believe in a breakdown either: an U.S.-China tariff deal by December 31 is priced at an 89% probability by @Polymarket. Magnets remain a leverage point in a relationship that endures, and rebuilding a U.S. supply chain retains strong tailwinds under both scenarios. Asset-by-asset analysis: $MP (MP Materials): Positive—the U.S. champion outside China, backed by the Pentagon $REMX (Rare Earths ETF): Positive—the diversified play on the supply chain without single-stock risk $F (Ford): Negative—U.S. automakers have already faced production stoppages due to magnet shortages