It could take up to five years to develop a domestic supply chain to supplant China’s global monopoly in processing rare earths into materials needed to produce everything from iPhones to F-35 fighter jets.
While the United States has most of the 17 rare earth elements and 50 critical minerals underground, it has no industrial capacity to refine them into processed metals and magnets, according to Melissa “Mel” Sanderson, American Rare Earths board member and Critical Minerals Institute co-chair.
“Currently in the United States, we have zero magnet manufacturers,” Sanderson told The Epoch Times.
She said that’s why China imposed export restrictions on seven “heavy” rare earth elements on April 4 in response to President Donald Trump’s April 2 tariff announcement that boosted levies on China imports. After tit-for-tat tariff hikes, the United States is currently levying Chinese imports for 145 percent, with electronics exempted for now….