Treasury Secretary Scott Bessent revealed the Trump Administration’s plan to combat China’s market manipulation, which has impacted industries like rare earths, by establishing price floors across a range of strategic sectors. The measures could include the U.S. taking equity stakes in more companies, similar to the July deal with MP Materials, a rare earth miner. Additionally, the Administration aims to create a strategic mineral reserve, with potential collaboration from JPMorgan Chase. Bessent emphasized the need for industrial policy to compete against China’s non-market economy and ensure U.S. self-sufficiency in critical industries.
