No impact to REMs---stockpiles and prioritization.

China currently has most of the world's separation facilities—but if it ever were to stop exporting the purified materials, other options exist. In the short term, U.S. companies that rely on these minerals would likely have inventory stockpiles for brief supply shortages, Gholz says, who served from 2010 to 2012 as senior advisor to the Pentagon's Deputy Assistant Secretary of Defense for Manufacturing and Industrial Base Policy. To stretch those stockpiles out, the overall market could prioritize rare earth elements for crucial applications such as military and medical technologies, while forcing makers of headphones or golf bags to pay more. "I don't think there is an obvious supply gap or hole where someone will not be able to get a Prius or Tesla or whatever they're looking at," Gholz says.