AsianFin -- China’s exports of rare-earth magnets to the European Union soared in August, highlighting the EU’s greater dependence on Chinese supply compared with the United States and its vulnerability to potential trade tensions between Beijing and Washington.

According to Chinese customs data released Saturday, shipments to the EU rose 21% from July, reaching 2,582 tons, bringing year-to-date volumes to more than three times those sent to the U.S. In contrast, exports to the United States fell 5% month-on-month, totaling 590 tons.