U.S. companies are warning that shortages of a critical component used in everything from cars to jet fighters could soon affect their manufacturing operations.

The WSJ’s Jon Emont writes that Chinese authorities are dragging out approval of Western companies’ requests for rare-earth magnets, two weeks after China promised the U.S. it would ease the export process for the materials.

Companies say they are receiving barely enough magnets for their factories and have little visibility of future supplies. Firms are waiting weeks as Chinese authorities scrutinize their applications, only to be rejected in some cases. Applications for raw rare earths used to make magnets are rarely granted.

Companies are opting for expensive airfreight whenever licenses are granted to prevent costly production shutdowns. Some manufacturers are experimenting with workarounds that would allow them to make their products without the materials.

A Ford Motor executive said the scarcity of the magnets has forced the automaker to “move things around” to avoid factory shutdowns.

The restrictions illustrate how Beijing is using its sprawling supply chains to inflict pain on Western businesses and draw concessions in its trade war with the U.S.

• The White House said President Trump could extend a July 9 deadline for trade deals with more than a dozen nations. (WSJ)

Your online purchase is now arriving via Delta Air Lines. The WSJ’s Esther Fung reports that Delta is carrying tens of thousands of packages a day for retailers such as Figs scrubs and Arezzo Shoes through a door-to-door delivery service.

The airline is taking advantage of unused space in the cargo holds of its planes as more passengers stick to carry-on luggage and the U.S. Postal Service delivers more letters and parcels using its own trucks.

Delta is using a technology platform called SmartKargo to link flight schedules to trucking companies that carry packages on the first and final mile of their journeys.

Still, there are some drawbacks to placing packages on passenger flights. Deliveries are vulnerable to travel delays, and a package can get bumped from its flight – just like a human passenger.

Initial jobless claims fell to 236,000 last week. (MarketWatch)

Demand for U.S. durable goods jumped 16.4% in May, reaching its highest level in 11 years. (WSJ)

An early look at U.S. trade patterns in May showed an 11% jump in the nation's trade deficit. (MarketWatch)

The European Union is considering lowering tariffs on a range of U.S. imports in a bid to clinch a speedy trade deal with President Trump. (WSJ)

Oil executives are urging the Trump administration to use ongoing trade talks with the EU to push for a rollback of two major climate laws. (WSJ)

GE Appliances plans to spend nearly $500 million to shift production of washing machines from China to Louisville, Ky. (WSJ)

Walgreens Boots Alliance saw sales increase in its latest quarter as the retail-pharmacy chain prepares to go private. (WSJ)

Spice maker McCormick’s sales edged higher in its fiscal second quarter. (WSJ)

DHL Express Canada and its union reached an agreement in principle to end a contract dispute that forced the parcel carrier to shut down service in the country. (Journal of Commerce)

Mediterranean Shipping ordered up to six vessels worth over $1.2 billion at a shipyard under China Merchants Industry Group. (TradeWinds)

Amazon plans to open a warehouse in Maine, its first in the state. (Bangor Daily News)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.