The White House’s prime focus has been China. Trump maintained a 145% import charge on Chinese products while putting a 90-day halt to many of his intermittent retaliatory penalties.
Beijing’s reaction was to halt shipments of several rare earth materials and magnets that are essential to the global automotive, electronics, and aerospace sectors.
The action may have an effect on American industries nationwide, especially those in the automobile sector. A lot of the minerals are used to create motor parts. China’s conduct was deemed.
“Concerning” by Trump’s top economic advisor. “They’re alarming.” Kevin Hassett said outside the White House, “And we’re considering all the options right now.”
A large portion of the economy depends on rare earths. Although it makes up a small portion of the value contributed to the US economy, it is an essential component.
He said that the government was assisting small companies that depended on Chinese suppliers in finding substitutes.
