Trump ends China’s monopoly on rare earths as Pentagon rapidly pushes for domestic mining and processing, invoking 1950 Defense Production Act:
http://dailytorch.com/2019/08/trump-ends-chinas-monopoly-on-rare-earths-as-pentagon-rapidly-pushes-for-domestic-mining-and-processing-invoking-1950-defense-production-act/
In a strong boost for the U.S. position in ongoing trade negotiations with China, it looks like Beijing’s monopoly on rare earth minerals used in smart phones, computers and high-tech military hardware is coming to an end as the U.S. Defense Department makes a big push for domestic processing of the sought-after materials. Just one less thing Beijing can hold over U.S. trade negotiators’ heads, and surely strengthens the U.S. position in those talks. China had placed a tariff on rare earths that were being shipped there for processing, but Beijing was never going to permanently be allowed to have a monopoly on elements essential to national security. Unlike his predecessors Bush and Obama, the American people can thank President Trump for that. What do you think?
