WASHINGTON, D.C. – Following a G7 meeting, the US State Department said they are working to bolster our supply chains and economy with new critical minerals deals.
Many countries, including the US, rely heavily on China for a range of minerals like rare earth magnets to battery metals. At a recent Group of Seven, better known as G7, meeting in Canada. The State Department said there was a huge focus on critical minerals and supply chains. Tommy Pigott, the principal deputy spokesperson for the State Department, said they made it a key priority to improve supply chains to make us more independent by securing these deals.
We asked Pigott if this is one way to counter China. In part, Pigott replied it’s about building our economy and boosting national security.
“There shouldn’t be any country we rely on 80 or 90 percent of a certain critical mineral for that country to be producing or processing,” said Pigott. “We shouldn’t have that. So, the President is very clear we’re having a re-industrialization of the American economy which will directly benefit the American worker.”
The US and China began a trade war earlier in the year. Recently, the President met with China’s President Xi Jingping to calm some of the tension. Following that meeting, China has rolled back a wave of restrictions on its export of critical minerals and rare earth minerals to the US. Some are seeing it as a trade truce.
