(LIBERTY NATION) – The trade war ramps up as China is considering curbing its export of rare-earth metals. Since these metals are essential in electronics, solar panels, and electric vehicles, China puts pressure on President Joe Biden’s plans to switch U.S. energy production from fossil fuels to renewables.
Rare-earth metals are atomic elements crucial to various high-technology industries such as semiconductors used in electronics, solar panels, and batteries used in electric vehicles and mobile phones. Without these minerals, IBM, Google, Tesla, Microsoft, Apple, Amazon, and all other high-tech companies could not exist. Considering that these companies make up more than 80% of the total value of the S&P 500, it is no exaggeration to say that rare-earth minerals are strategic assets vital to national interests.
The United States used to be one of the dominant players in this market. However, due to America’s decades-long China First policy, China now holds 80% of global reserves. The United States imports 80% of the elements it consumes from the communist regime.
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