Overseas media: Global race to develop rare earth resources as a challenge to China's dominant position
Since April, China's restrictions on rare earth exports have been seen as a "trump card" in response to US tariffs and technological suppression, highlighting its dominant position in the rare earth supply chain. Rare earths are crucial for the automotive, electronic, and defense industries.
Despite China's commitment to accelerate export approvals, the US is accelerating the construction of its domestic industrial chain.
The CEO of USA Rare Earth stated that by 2025, the company will "begin to shake" China's status in magnet production. Once fully operational, its factory in Oklahoma will generate $800 million in annual revenue, serving customers in electric vehicles, electronics, robotics, and more. Additionally, the company is developing rare earth separation technology in Texas to meet US market demand and reduce reliance on Chinese rare earths.
Original article: https://www.toutiao.com/article/1834602836179016/
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