The Canadian government said:
Freeland said China's EV overcapacity is being created with "very problematic labour standards [and] very problematic environmental standards."
"In our trading relationships, Canada attaches very high importance to high labour standards, to high human rights standards, to high environmental standards and that is going to be a set of issues that we consider carefully," she said. Freeland also said that the consultations will look for possible threats to cyber security and data security and will consider possible foreign investment restrictions. The significant theme that is being echoed around the world is the ESG component.
my view; All western nations will no longer tolerate blatant abuse of human rights and environmental devastation.
The risk of dealing with China, and any part of the EV (in ARU case, the magnet) is that it gets left on the docks not being able to be sold, as reputation and responsibility to uphold minimum ESG standards are no longer debated, but mandated, there is no choice but to find supply outside of China.
Add on the fact that national security for the west is the over arching factor to decouple from China rare earth market, and you have the perfect storm for supply deficit within a year.
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