It Is Happening Every Day, Every Where
The Pentagon and defense contractors are heavily reliant on magnets and rare earth minerals mined or processed in China, which has suspended exports of the materials in an escalating trade war.
The island’s population might not be easily convinced as the president tries to clinch one of history’s greatest real estate deals.
Mining companies and the Trump administration want the metals to boost manufacturing. Environmentalists and some countries worry industrial mining would harm oceans.
The price of gold, considered a haven during turmoil, surpassed $3,000 per ounce for the first time as investors send U.S. stock markets tumbling.
President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.
The country’s trade minister stressed its role as a top investor and employer in the United States in a bid to avoid being hit by new levies on metals and cars.
The minister, Yoji Muto, is expected to negotiate with U.S. officials ahead of global tariffs that could damage Japanese businesses, including automotive giants.
There is excitement about the potentially lucrative resources scattered around the island, especially the rare earths. But extreme weather, fired-up environmentalists and other factors have tempered hopes of a bonanza.
China dominates in critical minerals, and President Trump has turned to high-pressure tactics to acquire them.