Trump asked the ministry of national defense to find a better method for rare earth magnet which is used for industrial motor, and warning this could pose a threat to national defense at 22th July, 2019.
He illustrate that American do not have ability to manufacture anti-corrosion rare earth samarium magnet with high max working temp, which is main materials for intelligent missile, bomb and warcraft.
According to Defense Production ACT, authorized president and national defense to gain the necessary equipment. Although China is still the main manufacturer of rare earth, but America plays an important role on rare earth magnetic materials manufacturing among several leading countries from all around the world.
The ministry of national defense already take actions to increase the development and procurement of magnetic materials used for military. They also asked several mineral companies start to plan of development of rare earth mine and procurement or manufacture of processing equipment at the end of July.
Based on previous prediction of price increasing of rare earth magnet like neodymium or samarium magnet, political reason always cause the fluctuation of rare earth market. Relevant industry start to lower the cost to give an incentive to export of domestic rare earth magnetic materials.
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