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Bessent says new rare earth factory will cut costs, break China’s 'chokehold' on industry
- South Carolina's new rare-earth plant is framed as a key step to cut costs and challenge China's supply chokehold.
- Bessent calls the facility a manufacturing comeback that will create jobs and ease prices.
- About 800 construction workers helped build the facility, with potential growth as production scales.
- Bessent credits Trump-era actions and South Carolina leadership for permitting speed.
- Bessent argues affordability and real wage growth are improving under the Trump administration.
- The project is tied to national security by securing critical materials for various industries.
- Bessent links the plant to broader U.S. manufacturing revival through 2026 and 2027.
- Trump administration emphasizes affordability as a priority while supporting domestic rare-earth production.
- The interview situates the project within a broader push for U.S. energy independence in critical minerals.
- The facility is described as part of a national security response to supply chain vulnerabilities.
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