The auto industry has been hit particularly hard by China's rare earth export restrictions, but analysts warn Western defense giants are also vulnerable.

The US trade war with China has a major sticking point: rare earths minerals. Last month, President Donald Trump said the United States needed Greenland “very badly,” renewing his threat to annex the Danish territory.

China has agreed to fast-track approvals for the shipment of rare earth minerals to the United States and some European Union nations.