China's Rare Earth Strategy Shows Results, US and China Reach New Export Agreement

Foreign Media: China's Rare Earth Strategy Works, US and China Reach Export Agreement

Recently, China agreed to resume exports of rare earths to the United States, marking a breakthrough after multiple rounds of negotiations in Geneva and London. Rare earths are widely used in American products such as displays and lasers, while China controls about 60% of global production and over 90% of processing capacity. Since 1978, China's annual rare earth production has grown at a rate of 40%, gradually dominating the global market.

The United States restarted the Mountain Pass mine in California as early as 2010 after China restricted supplies to Japan, but after 15 years, it is still the only rare earth production facility, with great difficulties in rebuilding the supply chain. Although the U.S. hopes to reduce its reliance, it is difficult to challenge China's dominant position in the short term.

Original article: https://www.toutiao.com/article/1836523327385864/

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