‘THIS IS THE START': Scott Bessent signals big things will ‘lift off' in 2026-2027

Core Insights - The establishment of a rare earth mineral processing center in South Carolina marks a significant step towards reducing reliance on China for rare earth materials, with production starting this week [1][2] - This facility is the first U.S. plant to produce rare earth magnets in 25 years, indicating a potential shift in the domestic manufacturing landscape [2] - The project has created 300 permanent jobs and involved 800 construction jobs, showcasing its impact on local employment [6][7] Industry Developments - The facility, operated by EVAC, is positioned as a critical player in the U.S. rare earth supply chain, which has been historically dominated by China [1][6] - The rapid permitting process in South Carolina, taking only 8 weeks, highlights a supportive regulatory environment for manufacturing initiatives [3] - The potential for expansion of the facility is significant, with plans to increase its size by 6 to 10 times, indicating strong growth prospects [8] Economic Implications - The project aligns with national security interests by reducing dependence on foreign sources for essential materials used in various technologies, including military applications [4][5] - The focus on high-paying manufacturing jobs is part of a broader strategy to enhance economic security and improve real wages for American workers [8][12] - The administration's trade policies are credited with fostering an environment conducive to the growth of such manufacturing facilities, aiming to replicate successes from previous terms [13]