China’s dominance in rare earths makes U.S. supply chains vulnerable, U.S. Trade Representative Katherine Tai told CNBC’s Martin Soong.
in the rare earths metals market prior to the 1980s. But lower labor costs overseas, as well as less pressure on environmental standards, helped send the rare earths industry out of the U.S."The advantage in terms of China's dominance isn't necessarily a natural advantage," Tai said."It's not that they have more rare earths but that they were able to pursue coordinated industrial and trade policies that allowed them to corner the market.
The level of U.S. reliance on China-based manufacturing came to the forefront during the Trump administration, and accelerated when the Covid-19 pandemic in 2020 disrupted global supply chains. The Biden administration has announced multibillion-dollar initiatives to encourage companies to develop and manufacture critical technologies in the U.S.
While lithium is a key component of electric car batteries, it isn't one of the 17 metals scientifically categorized as rare earths. She said another aspect to that discussion is the degree to which U.S. trade with China is"imbalanced."U.S. Secretary of Commerce
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