Jim Cramer says it's time for the U.S. to negotiate with other countries for rare earth minerals
From cnbc.com Watch this video at https://www.metalsmine.com/news/1346210-jim-cramer-says-its-time-for-the-us.CNBC’s Jim Cramer on Wednesday said it’s necessary for the U.S. to negotiate with countries other than China for rare earth minerals. “We need to make these rare earth deals with the same alacrity that the White House gave out the reciprocal tariffs on ‘liberation day.’ We need them yesterday,” he said. “Then, and only then, will we truly be liberated.” China dominates the global market for these critical minerals, producing about 60% and processing almost 90%, CNBC reported. The materials are used in most electronics and are vital to the automotive and defense industries. Officials have warned that the U.S.’s dependence on China for the minerals poses a strategic issue. China imposed export restrictions on rare earth minerals back in April in response to President Donald Trump’s harsh tariff hikes.