US invests in rare earth metals reserve
Published 22.53
The Trump administration plans to allocate nearly $12 billion to create a strategic reserve of rare earth metals.
The project, “Project Vault”, aims to reduce China’s ability to exploit its dominance in the area in trade negotiations and to protect American manufacturers of cars, electronics and other goods from potential supply chain disruptions.
The project is initially being financed with $10 billion in government loans and $1.67 billion in private capital.
During last year’s trade conflict following President Trump’s tariffs, the Chinese government restricted exports of rare earth metals needed for jet engines, radar systems, electric vehicles, laptops and phones.
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