https://wccftech.com/psa-airtag-precision-finding-feature-does-not-work-in-every-country/

Planning to buy Apple AirTag because you got sold on Precision Finding? Not so fast, as the feature does not work in every country.

Apple blew our minds with the AirTag by showing off one feature alone - Precision Finding. Using the power of the U1 (ultra-wide band) chip in both your iPhone and AirTag, you can get a precise location of your lost items. Your iPhone will literally point you in the direction where the AirTag is down to the last feet.