US auto industry worried over China’s export restrictions

Business Business: The US Auto Supplier Association on Wednesday demanded immediate action against China’s restrictions on the export of rare metals and magnets. The Auto Supplier Association says that these restrictions could cause serious disruption in auto parts manufacturing.

China in April required exporters to obtain licenses from Beijing. This move came after the trade war between the US and China, when the Trump administration imposed additional tariffs on China.

The Auto Supplier Association warned that if action is not taken soon, auto parts production, such as transmissions, sensors, seat belts, and steering systems, could be affected. Earlier, Ford had briefly stopped production of its Explorer SUV due to a shortage of rare metals.