MP Materials, Lynas, USA Rare Earth and others are ramping up domestic production with Pentagon and EXIM backing, but executives say full replacement of Chinese supply won't happen by early 2027. China still controls the overwhelming majority of global rare earth refining and magnet production, giving Beijing leverage over EV, wind, robotics and defense supply chains. U.S. producers told Reuters they can't build enough processing and magnet capacity before the January 1, 2027 deadline to cut off Chinese rare earth materials. Industry executives and Pentagon suppliers told Reuters that U.S. processing and magnet manufacturing capacity remains insufficient to meet despite billions of dollars in federal support for new mines, separation facilities and downstream manufacturing. The shortage centers on neodymium-iron-boron (NdFeB) and samarium-cobalt magnets, which rely on rare earth supply chains that China continues to dominate.