The U.S. defense procurement review launched by the Trump administration last July is due to be submitted to the White House by today, though policy announcements could be weeks away. The review will cover materials as well as components, with exposure to China likely to be a critical issue. China accounted for 64% of America’s $379 million of imports of rare earths and related magnets in the 12 months to February. That was the highest since 2011, suggesting a rush to complete imports in case China cuts export allowances. In the case of LED/LCD indicator panels – which have civilian as w...