America Must Win the Critical Minerals Race
I am confident that America has the capacity to win the critical minerals race.
On April 4, China imposed unprecedented export controls on seven of the world’s 17 rare earth elements, sending a signal to the U.S.
China’s new controls require foreign countries to obtain licenses for products containing just 0.1 percent of Chinese-origin rare earths, starting December 1, and may deny licenses to any company with ties to a foreign military, including that of the United States.
Nearly three decades ago, former PRC leader Deng Xiaoping said, “The Middle East has oil, China has rare earths.”
This move is a calculated, long-game strategy on the part of the People’s Republic of China (PRC).
- China imposed export controls on seven rare earth elements on April 4.
- New controls require licenses for products with 0.1 percent Chinese-origin rare earths.
- Licenses may be denied to companies with ties to foreign militaries.
Author's summary: America must act to win the critical minerals race against China.
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