USA Rare Earth Applauds US Government Efforts to Counter China’s Unfair Trade Practices

TAMPA, FL, UNITED STATES, May 15, 2024 /EINPresswire.com/ -- USA Rare Earth, LLC (USARE) commends the US Government’s efforts to offset China’s unfair trade practices through increased tariffs on Chinese imports. These tariffs target strategic sectors critical to the American economy and way of life, including electric vehicles (EVs), medical devices, batteries and critical minerals.

As noted in the White House announcement, the tariffs on permanent magnets and critical minerals will increase from zero to 25% in the next two years. This is a significant step in leveling the playing field for these key components that are essential to a host of technologies, ranging from cell phones and medical devices to EV motors and various defense applications.

Currently, >90% of high-performance rare earth magnets are produced in China. USA Rare Earth is working to bring the production of these permanent magnets back to America by establishing a domestic supply chain supporting the future state of energy, mobility, and national security.


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About USA Rare Earth, LLC: USA Rare Earth, LLC is a US-based, vertically integrated magnet technology company. USARE is poised to become a leading domestic supplier of rare earth magnets and heavy rare earth elements required for the electric vehicle, green energy, consumer electronics, and defense industries, as well as tech metals needed for chipsets, semiconductors, and 5G.

USA Rare Earth, LLC owns a magnet production facility in Stillwater, Oklahoma and the Round Top Heavy Rare Earth and Critical Minerals deposit in Hudspeth County, West Texas. Texas Mineral Resources Corp. (OTCQB:TMRC) is also a minority shareholder in Round Top. For more information about USA Rare Earth, visit usare.com.

Inquiries
Annie Cheek
info@usare.com