India, Oct. 15 -- US Treasury Secretary Scott Bessent stated that America expected to receive support from India and Europe as Washington grapples with the effects of China's new export controls on rare earths.

Last week, China's Ministry of Commerce announced sweeping new restrictions that would block rare earths supplies to companies with ties to foreign militaries. Given China's dominance in the sector, the restrictions are expected to compromise America's ability to manufacture key defence platforms including F-35 fighter jets, advanced submarines and long-range Tomahawk missiles.

"We have already been in touch with the allies. We will be meeting with them this week and, you know, I expect that we will get substantial global support...