Union Made In USA
The Alliance for American Manufacturing reports that President Biden is working to shore up the domestic supply chain. To that end, the Biden Administration announced a $35 million investment in a California-based rare earth facility, with the aim of creating a fully domestic supply chain for the magnets that power vehicle motors, wind turbines and more.
Just about everyone knows that the US is facing serious supply chain disruptions. But that doesn’t just mean items stocked at the store. It also involves rare earth materials which we use to manufacture a wide range of items. Indeed, the bulk of America’s supply of these critical minerals is imported. China produces around 90% of the world’s supply of rare earth elements.
That’s not all the administration is doing. The Department of Interior also announced a new interagency working group that will focus on reforming mining laws, regulations and permitting policies “to promote the sustainable and responsible production of critical minerals.”
