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Is the West too reliant on Chinese rare earth exports?

Published

3 years ago

June 1, 2023

ticker NEWS

Rare earths elements are needed to make iPhones, advanced batteries, military night-vision goggles and MRI machines. According to the U.S. Genealogical Survey, China was responsible for 80% of rare earths imports in 2019.

Critical earth minerals are a necessity for humans around the world.

They are essential to our modern-day lifestyles and critical in the creation of things such as iPhones, electric vehicles, and advanced precision weapons.

While the United States is dependent on other countries for many minerals, there is no country that America is more dependent on than China. And all these minerals come at a price.

Rare earths elements are needed to make everything from the technology we use every day like smart refrigerators and advanced batteries to night-vision goggles used by the military to MRI machines which are crucial to the medical field.

Many in the government, business, and science sectors have long raised concerns about how to ensure the West’s continued supply of these critical earth minerals.

The United States was once a dominant player in the rare earths supply chain, but for decades, that global market has been dominated by China.

According to the U.S. Genealogical Survey, China was responsible for 80% of rare earths imports in 2019.

Last year, the Biden administration even touted a new plan for the United States to rival China and end their decades-long dominance of rare earth metals market.

So, how reliant is the West on Chinese rare earth exports?

Luisa Moreno the President of the Defense Metals Corp joined us to discuss. #rareearthelements #china #unitedstates #greenagenda #veronicadudo #luisamoreno #trade

Related Topics:china greenagenda luisamoreno rareearthelements trade unitedstates veronicadudo

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Elon Musk’s SpaceX plans $25 billion IPO in 2026

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