China's dominance in rare earths minerals can cause a shortage for US consumers in everything from cars to TV remotes.

Shares of MP Materials are extending a recent rally into Tuesday as officials from the U.S. and China are in the midst of trade talks, with the importing and exporting of rare earths a key topic.

As U.S. and Chinese negotiators meet for trade talks, a primary concern for Washington will be whether Beijing eases the flow of rare earth materials.