Thursday, October 8, 2020 |
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(Worthy News) – President Trump has signed an executive order aimed at countering China’s drive to corner the international market on rare earth minerals — key elements used in high-tech products that are the backbone of the U.S. economy and key weapons systems.
The Sept. 30 order calls on the government to end reliance on China and develop domestic supplies of processed rare earth minerals. A number of reports by government agencies must be sent to the White House in the coming weeks to describe the progress toward those goals.
“Our dependence on one country, the People’s Republic of China, for multiple critical minerals is particularly concerning,” Mr. Trump said in announcing the order, noting that the United States now imports 80% of its rare earth elements directly from China and some of the remainder is indirectly sourced from China through other countries. [ Source: Washington Times (Read More…) ]
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