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00:02President Trump's effort to end U.S. reliance on Chinese critical minerals by January 1st,
00:072027, is running into limited domestic mining and processing capacity, according to Reuters.
00:13Federal regulations require defense contractors to stop purchasing rare earths, magnets,
00:19tungsten, molybdenum, and tantalum from China, Russia, Iran, and North Korea,
00:24while Trump has tightened the waiver process.
00:27Industry executives, analysts, and policymakers told Reuters that U.S. production remains far
00:33below demand and new projects will take years to come online. Companies backed by Pentagon funding
00:38are expanding mining, refining, and magnet production, but several projects are not
00:43expected to begin operations until 2027 or later. Analysts said the U.S. is unlikely to build a
00:49complete domestic supply chain before the deadline. For all things money, visit Benzinga.com.
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