U.S. Official Raises Concerns Over China's Tactics with Rare Earths
Commerce Secretary Howard Lutnick's recent remarks shed light on the concerning trend of China 'weaponizing' its control over rare earth minerals and other goods. The Trump administration is taking steps to address this issue.
Commerce Secretary Howard Lutnick expressed serious concerns this week regarding China's utilization of rare earth minerals as a strategic tool in international trade.
In a statement, Lutnick emphasized that China's dominance in the rare earth market poses a threat to global supply chains and national security. He stated that the country's actions amount to 'weaponizing' these essential minerals and other goods, thereby creating a significant challenge for U.S. trade policies.
'The Trump administration is actively working to counter China's unfair trade practices and safeguard American interests,' Lutnick affirmed.
China currently holds a near-monopoly on the production of rare earth minerals, which are crucial components in various high-tech products, including smartphones, electric vehicles, and defense systems.
The U.S. has recognized the strategic importance of rare earth minerals and is exploring ways to reduce dependence on Chinese supply.
'Diversifying our sources of rare earth minerals is a key priority to prevent any potential disruptions in the global supply chain,' Lutnick added.
The Trump administration's efforts to address China's alleged 'weaponization' of rare earths come amidst escalating trade tensions between the two economic powerhouses.
Experts suggest that the U.S. may implement tariffs or other measures to mitigate the impact of China's control over these critical minerals.