Rare earth minerals are an essential ingredient of countless high-tech and electronics products. And China holds a near monopoly on the worldwide supply.

The dispute between the U.S. and China is more than a question of tariffs, says René Buck, CEO of BCI Global. It involves complex matters of intellectual property and re-sourcing.

The trade standoff between the U.S. and China has yet to seriously impact the pharmaceutical and life sciences industries. But as neither side shows signs of backing down, and tariffs continue to be levied on virtually every segment, those sectors are preparing for a major supply-chain disruption.