Seems like the United States and Europe want to de-risk their economic relationship with China, whatever de-risk should mean.Pretty clear that China wants to decouple the tech that is embroiled in the tech war, which is telecommunications and integrated-circuits aka microelectronics.
A ban on the rare earths like this, will force others to choose sides. Even when they are not ready or prepared to do so.
Should be interesting. No truce in sight in the tech war.