Pentagon to counter China threats by funding US rare earth mines

The U.S. Defense Department requested federal funding to support the ramp-up of several American rare earth element mines after China threatened an export ban. The Sino-American trade war raged this week with a series of back-and-forth retaliations.  With China generally being unable to gain advantage by pressuring the Trump administration over the risks of higher import prices and key component interruptions, Bloomberg reported that Beijing's leadership has a plan to restrict export supply of the 17 so-called rare earth elements that are crucial to the U.S. production of military jet engines, satellites, and lasers, plus consumer products from iPhones to electric cars. The threat against the U.S. was issued Thursday in a China People's Daily incendiary headline: "United States, don't underestimate China's ability to strike back."  The article warned of the United States' "uncomfortable" dependence...(Read Full Post)
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