Can the U.S. break China's rare earth dominance?

Industry Overview - Rare earth elements, comprising 17 elements with unique magnetic properties, are vital for modern technology [1] - Rare earth magnets are essential for electric vehicles, wind turbines, defense equipment, data centers, and high-tech consumer electronics [2] - The US, once a leader in rare earth production, has become largely dependent on China for its supply [2] Geopolitical Implications - Escalating trade tensions between the US and China, particularly after China's export controls on rare earths, have spurred the US to develop a domestic supply chain [3] - The US views the competition with China in rare earths as an "existential competition" [3] US Strategy - The US is seeking to wean itself off of Chinese rare earths by exploring domestic mining and processing options [3][4]