US Wants to End Dependence on China Rare Earths: Treasury Secretary

US Wants to End Dependence on China Rare Earths: Treasury Secretary
U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Commmittee hearing on President Biden's 2023 budget, on Capitol Hill in Washington on June 7, 2022. Evelyn Hockstein/Reuters
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SEOUL—The United States wants to end its “undue dependence” on rare earths, solar panels, and other key goods from China to prevent the regime in Beijing from cutting off supplies as it has done to other countries, U.S. Treasury Secretary Janet Yellen said.

Yellen, who arrived in Seoul late on July 18, told Reuters that she’s pushing for increased trade ties with South Korea and other trusted allies to improve the resilience of supply chains and avert possible manipulation by geopolitical rivals.