Trump spends $12 billion to confront China in the mineral sector
Just as Japan finished mining, the US is also "confronting China" in the mineral sector.
According to Reuters, on the 2nd, Trump announced the launch of a $12 billion key mineral reserve program to counter what he called "China's manipulation of lithium, nickel and other mineral prices."
According to Trump's statement, of this $12 billion, $2 billion is private funding, and the remaining $10 billion is a loan provided by the US Export-Import Bank, used to help American automakers and tech companies acquire and stockpile mineral resources.
It should be said that Trump's plan is full of a very typical American way of thinking: as long as Congress or the federal government approves the money and the printing press starts running, all problems will be solved; if they are not solved in the end, it's probably just because not enough money was printed.
This $12 billion seems like a lot, but when it comes to competing with China in the global mineral market, its effect may not even touch the edge.
In fact, since the Obama administration, the US has repeatedly mentioned "critical mineral supply chain security," but what has been the result?
A lot of executive orders have been signed, several bills have been passed, a lot of money has been spent, various "strategic reserves," "friend-shoring," and "domestic mining subsidies" have been implemented one after another. However, by 2025, the US's reliance on critical minerals such as lithium and nickel remains extremely high, and the points where it is still vulnerable remain as before.
Original article: toutiao.com/article/1856099608950787/
Statement: This article represents the views of the author.