Technology

Its not rolling back the clock imo. We have already pulled out those resources. They are in our possession. We don’t need to mine fresh rare earth metals.

So if your policy goes into place, all extraction of rare earth materials stops at, lets say, midnight. We've got some spares on the shelf, but without replenishment, and knowing that replen will never come from virgin materials again, those components are horded.

With the global knowledge of this, industry and consumers rush to buy up remaining stock. In three months most electronics stores will be bare electronics. This includes mobile phone stores too. In about 2 months we'll see new automobile supplies dry up because specific critical control modules simply can't be built new anymore. Most cars on the road today will break, and simply be parked or scrapped because replacement parts are simply non-existent.

Existing deployed systems all over the world will start to break and not be fixed anymore. Simple things like digital signage at stores will break and remain dead or be ripped out altogether. Lines (queues) will be much longer as many kiosk driven activities now have to be done by humans. Think airport or train check in. Delays in post or package shipping will increase as transport infrastructure starts to break down.

Most of the western world will still have food for many months, but variety will decline dramatically. Anything delivered by aircraft will suddenly cost much MUCH more money because carriers will be trying to keep low hours on now (mostly) un-repairable aircraft.
New computers will start getting bigger again and slower again. Much of the benefits of these materials making computers smaller, faster, and require less electricity.

It will take probably a decade for your recycling program to come online at any scale that can replace what we have for supply chain right now. Even then, recycling can't easily replace some of the materials as they are bonded chemically during time of manufacture so many lower cost semiconductors simply stop being made.

None of this speaks to the massive economic impact to the world where tens of millions of jobs start to disappear because the world they did relied on affordable devices which are now a premium priced item. Economic upheaval felt by this will make the tariff war we're going through right now seem like an ideal fantasy.

It will be very eerie to watch our societies and technologies slowly crumble before our eyes and things that were considered near throwaways be now treasured relicts of the past of an age of abundance.