U.S. wants to end dependence on China rare earths, Yellen says – by Andrea Shalal (Reuters – July 18, 2022)


SEOUL, July 18 (Reuters) – The United States wants to end its “undue dependence” on rare earths, solar panels and other key goods from China to prevent 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 Monday, told Reuters she was 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.

“Resilient supply chains mean a diversity of sources of supply and eliminating to the extent we can the possibility that geopolitical rivals will be able to manipulate us and threaten our security,” she said in an interview en route to Seoul.

Yellen will map out her concerns in a major policy address in Seoul on Tuesday after touring the facilities of South Korean tech heavyweight LG Corp (003550.KS) during the final leg of an 11-day visit to the Indo-Pacific region.

For the rest of this article: https://www.reuters.com/markets/us/us-wants-end-dependence-china-rare-earths-yellen-2022-07-18/