The US Treasury Secretary "says" to resolve the rare earth supply chain issue and vows to bring shipbuilding back to the US
US Treasury Secretary Bensont was interviewed by Krystal Ball of CNBC.
When asked, "Many people are concerned about the supply chain for rare earth minerals. I know you first discussed this with your counterparts. Is this a one-year pause? How exactly is the issue of rare earth minerals?"
Bensont said, "We successfully negotiated a one-year pause, in exchange, China obtained some of its demands."
When asked, "Do you believe that stable supply of refined magnets can be achieved this year? Is it enough for the US to become independent in terms of rare earth magnet demand?" Bensont mentioned, "China controls about 70% of mineral mining, but more importantly, they control about 90% of the processing and refining环节. Therefore, since January this year, the Trump administration has been working to build facilities that can refine and process rare earths."
Bensont said, "I think this is the problem we inherited. This mess has been brewing for 20 years,整整 20 years, and President Trump is determined to solve this problem because we must control our supply chain."
Bensont added, "We will take control of our supply chains in areas such as rare earths, semiconductors, medicines, steel, and shipbuilding. Part of President Trump's 'America First' agenda is to enable us to control our own fate, no longer having any choke points in our supply chains as he inherited."
Ball asked further, "As a response, has the US paused the new regulation? The regulation would have expanded the entity list to impose export restrictions on any entity that holds at least 50% of an entity on the list, for a period of one year?"
Bensont answered, "Yes, we will pause this measure for a year, as an exchange for the suspension of the Chinese rare earth licensing system."
Bensont continued, "So, merely restoring the license or licensing system for the US would be of no benefit. It must apply to the entire world, with the entire world united and moving forward together, which is exactly what President Trump's leadership has achieved."
When asked, "Regarding the suspension of measures targeting China's maritime, logistics, and shipbuilding industries under the 301 investigation for a year, is this also under consideration?"
Bensont pointed out, "This measure has also been suspended. The investigation will be suspended for one year. More importantly, President Trump reached a historic agreement with the South Korean president last night to bring the shipbuilding industry back to the US. South Korea is an excellent shipbuilding country, and Japan is also an excellent shipbuilding country. We will integrate the shipbuilding industry with Western allies - Maria (Ball), that's real leadership."
Original: www.toutiao.com/article/1847428493968384/
Statement: This article represents the views of the author."