Japan's Urgent Need for Yttrium Fuels U.S. Diplomatic Efforts with China

According to a Financial Times report, Japan has requested the U.S. to urge China to ease export controls on critical rare earth elements (REEs), specifically yttrium, given its imminent depletion. A Japanese government official has warned that without relaxation of export restrictions from China, and potential failure to find alternative suppliers, Japan’s reserves of yttrium could deplete by the end of the year, posing a threat to both local and global economies. Due to trade tensions, China has increased its export regulation on REEs, leading to heightened concerns in Japan and the U.S.