Former President Trump spotlighted America’s heavy reliance on China for rare earth minerals and announced plans to skyrocket tariffs on Chinese goods to 55%, intensifying the trade battle, according to AP News
Browsing: rare earth minerals
Former President Trump unveiled a bold new strategy: securing magnets and rare earth minerals from China while simultaneously slapping tariffs on Chinese goods at a staggering 55%. This move signals a daring and complex shift in the US trade policy and supply chain approach
China controls over 70% of the world’s rare-earth supply, a crucial resource fueling today’s cutting-edge technology and defense industries. In a bold move to challenge this dominance, Australia is rapidly expanding its mining and processing efforts, aiming to build a stronger, more diverse global supply chain
A newly released map highlights Australia’s significant rare earth deposits amid escalating tariff disputes. As global demand increases, strategic resources may play a pivotal role in international trade dynamics and geopolitical tensions.