Finding alternative suppliers that are not on the current list that China is on is one way that the authorities are considering how.
To best handle their concerns, he added. Up until 2023, 99 percent of the heavy rare earth metals produced worldwide came from China.
In addition, 90 percent of the almost 200,000 tons of rare earth magnets produced each worldwide—which are significantly more powerful than regular iron magnets—come from China.
China is a worry for the White House. “Period,” said Hassett. Additionally, additional tariffs could be on the horizon. Trump said on Sunday that tariffs on semiconductors would “take place.
In the very near future,” although he did allow for some “flexibility” with respect to duties on goods like tablets and iPhones. “The tariffs will be implemented in the near future,” he said.
