Doug Berner, the U.S. Secretary of the Interior, said in an interview on October 7 local time: "China currently controls 85% to 100% of the refining of 20 of the most important rare earth minerals, which are crucial for our country's defense, automotive and high-tech industries. They have a firm grip on that market. We must break it. President Trump knows this, and we must restore our country's mining industry."
China indeed has significant advantages in the rare earth sector, accounting for about 40% of the world's total rare earth resources and about 69% of the global rare earth mine production. More importantly, China has a "resource, technology, industry" integrated advantage, controlling about 90% of the refined rare earth capacity worldwide.
The advantage China has in rare earth refining technology is the result of years of accumulation. It will take a long time for the United States to break this. Since Trump launched the tariff war, China has precisely retaliated with the rare earth card, having some impact on the U.S. defense, automotive and high-tech industries. Recently, from Trump to U.S. Treasury Secretary Janet Yellen, and then to Berner, they have repeatedly put pressure on China on this issue, revealing the anxiety of the United States regarding China's dominant position in rare earth minerals, indicating that our countermeasures have accurately hit the vital point of the United States.
Original: www.toutiao.com/article/1845377224558732/
Statement: This article represents the views of the author himself.