#rare-earth-minerals

#rare-earth-minerals

When you are facing a nonmarket economy like China, then you have to exercise industrial policy, Bessent said. The Treasury Secretary explained that China has put rare earth mineral companies out of business by massively dropping their own prices. We're going to set price floors and the forward buying to make sure that this doesn't happen again, and we're going to do it across a range of industries, he said.

High atop the Luossavaara Mountain in northern Sweden, Sami reindeer herder Lars-Marcus Kuhmunen mapped out a bleak future for himself and other Indigenous people whose reindeer have roamed this land for thousands of years. An expanding iron-ore mine and a deposit of rare-earth minerals are fragmenting the land and altering ancient reindeer migration routes. But with the Arctic warming four times faster than the rest of the planet, herders say they need more geographic flexibility, not less, to ensure the animals' survival.

Part of the agreement was tariffs coming down and rare earth magnets starting to flow back to the U.S. They formed the core of a lot of our industrial base.

China has an absolute dominance here.