Geopolitical events
China's Ministry of Commerce implemented the "Strategic Resource Export Control" policy on April 21, 2026, imposing strict licensing requirements on the export of high--grade graphite and lithium. This regulatory shift is a direct response to the U.S. Reciprocal Trade Act and is projected to significantly impact global semiconductor and electric vehicle supply chains. The policy has introduced immediate volatility into international commodity markets, complicating macroeconomic recovery efforts in the European and North American industrial sectors.