Ford wants the U.S. to be a bit loose in determining whether EVs comply with new EV tax credit requirements. Read on for what's going on here. Some Background Rare-earth minerals are a big deal.
“Will rare earths become a counter weapon for China to hit back against the pressure the United States has put on for no reason at all? The answer is no mystery,” a state-run newspaper said in 2019. “Undoubtedly, the U.S. side wants to use the products made by China’s exported rare earths to counter and suppress China’s development. The Chinese people will never accept this!”
More recently, tensions have appeared to ratchet down, but Taiwan’s status is not the only point of pain in U.S.–China relations that might lead to Xi Jinping pulling the rare earths and battery minerals card. The South China Sea, Hong Kong protesters, and a variety of other disputes and issues could lend themselves well to threats or an actual cutoff of rare earths and cleantech materials.So, it should be no surprise that the U.S.
Though it would be ideal to fix this issue by simply buying American-made products, the market for these goods is not yet booming. China and Russia currently dominate in this area, with China having a stronger hold than Russia. Furthermore, it can take years to establish mining and processing sites for everything that goes into batteries.
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