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China Owns 96% Of A Crucial Industry. What’s Biden Going To Do About It?

(Sean Gallup/Getty Images)

Varun Hukeri General Assignment & Analysis Reporter
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President Joe Biden faces a multitude of foreign policy challenges from China, but among the most pressing is the country’s monopoly in the production and export of rare earth elements crucial to a variety of technology industries and national security.

Biden launched a review of his administration’s China strategy Wednesday during his first official visit to the Pentagon as commander-in-chief, The Wall Street Journal reported. A task force is expected to review the U.S. military posture in Asia along with areas of strategy such as technology and the economy.

Rare earth elements are relatively abundant despite their name, but the process of mining rare earths and turning them into consumer products is expensive and damaging to the environment.