China has long dominated the rare earth market, but with recent export restrictions, that grip may be loosening. In April, China announced sweeping export restrictions on a wide array of rare earth elements, dealing a heavy blow to major industries such as automakers and military contractors. These new restrictions add more pressure to an already strained supply chain.
Go deeper: China currently produces about 90% of the world’s rare earths, but the tariff war could change this. Uncertainty swirls around China’s strategy: while they’ve clamped down on exports, they also recently granted temporary licenses to supply rare earths to the top three U.S. automakers. The mixed signals leave many wondering—what’s the real endgame?
WY it Matters: This is a moment of possibility for Wyoming. Last fall, the Halleck Creek rare earth project was announced right here in our backyard, and early findings are promising. It could be one of the largest rare earth deposits in the country. Your Wyoming Chamber is committed to advocating for smart growth and strong leadership. We’re calling on state leaders to seize this opportunity and position Wyoming as a national leader in rare earth production, fueling America’s industries and boosting our economy.
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The Wyoming Chamber of Commerce is the driving force behind Wyoming’s business success. We believe in free enterprise, local leadership, and economic growth that benefits every corner of our state. Whether you’re a small business owner, an industry leader, or an entrepreneur with a bold vision, we are here to advocate, elevate, empower, and unite Wyoming’s business community.
