There was coverage around a year ago of China reducing/ceasing rare earth exports in 5 years time. Their plan was aligned on upstream magnet supply dominance - less in country pollution being another comment at the time - processing reo's for internal requirements and magnet supply chain.
They could easily bring that forward. No Dysprosium supply alone would impact/halt ROW magnet making capability - so one ban effects immediately others in PrNd - then game on for supply as available stocking would be diminished rather quickly.
News: LYC UPDATE 2-Beijing jabs in US-China tech fight with chip material export curbs, page-41
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