News Snapshot:
China's restrictions on raw materials could strangle the U.S. defense industry, according to a former U.S. official. Nazak Nikakhtar, former assistant secretary for industry and analysis at the Department of Commerce, told Newsweek that the U.S.' over-reliance on China for superabrasives is concerning and Beijing could further restrict its access. "China has already been deliberately limiting the United States' access over the course of the past two years. Prices of superabrasive materials have approximately doubled due to China's export restrictions to date. And there are rumors in China of the Chinese government directing companies to cut off our access even...