The auto industries in both the US and Europe could come to a standstill within weeks thanks to China’s ongoing restrictions on exports of rare earth minerals and magnets. Several European car part manufacturers have already halted production lines according to the European Association of Automotive Suppliers (CLEPA).

China has introduced a tracking system for its rare earth magnet sector, three sources said, as its export restrictions on them begin to cut off customers around the world.

The United States allowed its rare earth metals industry to move to China and could now face severe economic disruption as China limits crucial supplies.