White House advisor warns that the U.S. has a long road ahead to catch up with China
🇺🇸 White House advisor warns that the U.S. has a long road ahead to catch up with China.
China currently dominates the rare earth and mineral production market, controlling the lion’s share of 60% globally. Special Presidential Coordinator Amos Hochstein is warning that the legislation in place meant to bolster domestic production may be too little too late, as a diversified supply chain will be very difficult to achieve. With so much concentration on China’s rare earth production, The United States has quite the uphill battle. The pandemic and the war between Russia and Ukraine have only accelerated the need for a diversified supply chain and the tensions between the United States and China are extremely high.
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