U.S. Treasury Secretary Scott Bessent said on Nov. 2 that the United States is aiming to achieve supply chain independence from China on critical minerals within a year or two.
“The U.S. has been asleep at the switch, and now this administration, we’re going to go at warp speed over the next one, two years, and we’re going to get out from under the sword that the Chinese have over us—and they have it over the whole world,” Bessent said on CNN’s “State of the Union.”
On Oct. 9, the Chinese regime announced sweeping restrictions on rare earth minerals sourced from China that were broadly considered to have a disruptive effect on global trade. Bessent said the licensing regime covered products containing 0.1 percent of several rare earths, making the controls “China versus the world.”…
Bessent: US Working at ‘Warp Speed’ to Reduce Reliance on Chinese Critical Minerals
