What exactly were we thinking starting a trade war without having this rare earth elements issue all buttoned up and ready to go? How did we get so far along in this contest of wills when we hadn’t invested the money to explore rare earth material refining and production in this country?
The group of 17 minerals known as rare earths are used to make smartphones, tablets, speakers, touch screens, wind turbines, solar panels, robotics, advanced manufacturing, semiconductors, lasers, electric vehicles, and, yes, the F-35 fighter jet, which uses a huge amount of rare earth minerals. Given all that, shouldn’t someone have checked to see if we had refining capacity and were hoarding these the way we do oil in the strategic petroleum reserve? Why do we have a bitcoin reserve and no rare earth reserve?
Does anyone know how we could let things go this far without thinking that China — which controls the majority of rare earth global production and almost all if its refining — wouldn’t just shut us down? In April, China implemented export controls on a subsegment of rare earths and magnets, and automotive supply chains have started to feel the bite. A report Friday said suppliers to the Big Three automakers gained the necessary export approvals from China. President Donald Trump also claimed Friday that, in his phone conversation with Chinese President Xi Jinping, Xi agreed to let rare earths go to the U.S.
That commentary comes from a financial newsletter I subscribe to. It exposes the shortsighted idiocy and lack of preparation by the regime for the trade war it started. Due to trump's impulsiveness and absence of forward, strategic thinking.
There's other sources besides China quit kissing Chinese ass