U.S. Treasury Secretary States: Completely Eliminate Dependence on China for Rare Earths Within 4 Years

U.S. Treasury Secretary: U.S. Hopes to Fully Break Dependency on China for Rare Earth Metals Within 4 Years

U.S. Treasury Secretary Bessent stated that the United States aims to completely eliminate its heavy reliance on China in the rare earth metals sector within the next four years.

Citing remarks from Bessent regarding reducing dependence on China, The Wall Street Journal reported: "We have made significant progress. I would say that every nine months we achieve a qualitative leap—this issue is likely to be fully resolved within four years."

Bessent also noted that the U.S. holds important leverage in its dealings with China, but acknowledged that restricting China’s access to technologies such as aircraft engines and quartz silicon, as well as tightening regulations for Chinese students traveling to the U.S., has raised serious concerns in China.

Source: sputniknews

Original article: toutiao.com/article/1863393420857420/

Disclaimer: The views expressed in this article are solely those of the author.