China Trade Curbs on 10 US Firms, Including MP Materials (MPM)

On November 11, 2025, the Chinese Ministry of Commerce imposed trade restrictions on 10 U.S. firms, including MP Materials Corp (MPM) and Oshkosh Defense, prohibiting exports of dual-use items to these companies. This action was a response to the Pentagon adding Chinese firms to its 1260H list, which affects U.S. defense contracting. Additionally, 46 U.S. companies were barred from government procurement projects in China. Although analysts view the countermeasures as symbolic, they can influence market perceptions regarding U.S.-China relations.