China announced abrupt controls on exports of some gallium and germanium products, effective from August 1, which in turn has ramped up a trade war with the United States. The same could potentially cause more disruption to global supply chains, reported Reuters.

“Chinese industry players also fear that curbs on rare earth exports could follow,” the news added.

The news quotes Peter Arkell, chairman of the Global Mining Association of China, saying "China has hit the American trade restrictions where it hurts."