China is countering U.S. tariffs with punitive export controls on rare earth minerals. Nearly all modern conveniences, including automobiles and smartphones, rely on these pricey bits of exotic rock to some extent. If our inventory runs out, so does our technological dominance and military readiness. [emphasis, links added]
A report released Monday by Unleash Prosperity says there’s no reason America can’t make the most of local sources of these strategically important substances. They are usually discovered out West, where Uncle Sam is the biggest landlord.
The group’s economists reckon $12 trillion lies beneath our feet, waiting to be tapped. If we exploit this abundance, we can meet many domestic needs without begging Beijing or Moscow for help. All it takes is the will to extract these resources.
We used to have such a will. America was a big player in metal production until a few decades ago, when environmentalists howled and politicians caved.
Interior Secretary Doug Burgum is interested in returning to the policies of a saner era. His mantras are: “map, baby, map” to find regions with the greatest potential to “mine, baby, mine.”
It’s risky to assume we can trust the Chinese Communist Party to keep U.S. industries properly stocked with the materials required to produce high-tech products, including missile guidance systems.
The COVID-19 fiasco revealed the folly of turning to China in a time of crisis for pharmaceuticals and medical supplies.
Beijing won’t hesitate to cut us off to gain a strategic advantage, knowing this would deliver a massive blow to the U.S. economy.
In August, the U.S. Geological Survey modeled the impact of China’s hoarding of samarium, which is used in powerful magnets and nuclear reactors. We would lose $4.5 billion in gross domestic product, but the Middle Kingdom also wields a near monopoly on refining 45 other essential minerals.
America successfully weaned itself off Middle Eastern crude. We are back as the world’s No. 1 oil producer, thanks to President Trump’s first-term “drill, baby, drill” promise.
Unleash Prosperity recommends applying the same enthusiasm to minerals by creating a streamlined permitting process for mining on public land. We must also curb frivolous “environmental” lawsuits. Remember, the obstructionists behind these schemes uglified America’s formerly pristine rural areas with vast bird-chopping windmill farms and acres upon acres of solar panels. They don’t actually care about Mother Nature.
They are also hypocrites. Their infatuation with electric cars and other Green New Deal malarkey is responsible for 20% of the current global consumption of these in-demand elements, according to the International Energy Agency.
We won’t be able to locate every obscure element on these shores, so we will have to look to friendly nations for help. Understanding this, administration officials have capitalized on the peace dividend from Mr. Trump’s resolution of the conflict between Rwanda and Congo.
We now have a supply chain importing critical metals from Rwanda, such as uranium, tantalum, tin, and gold — duty-free. The first load of tungsten arrived in Pennsylvania last month.
“You’re going to see a lot more shipments,” Trinity Metals Chairman Shawn McCormick said on X. “As a matter of fact, there are three of them on the high seas right now.”
Mr. Trump’s trade initiatives forced Chinese President Xi Jinping to disclose the potent economic weapon he held in reserve. We have the opportunity to counter it. It just takes the will.
Read more at Washington Times
It is too bad that China’s didn’t implement “Punitive’ Export Controls” sooner. That way the United States could already be working on developing sources that are independent of China. However, the over reliance on China for rare earth minerals and the potential for them to use that for coercion has been know for a long time. The US has just decided to do little about it. As a consequence, fewer batteries for electric vehicles, fewer solar panels, and fewer windmills can be built. At least that is good but there are other products requiring rare earth minerals.