China’s decision to tighten licensing on the export of rare-earth minerals will backfire and damage its own economy, National Economic Council Director Kevin Hassett told Newsmax on Friday.
Hassett told “Rob Schmitt Tonight” that Beijing is “wrong” to think it has found the United States’ Achilles’ heel by restricting exports of critical materials used in everything from defense technology to electric vehicles.
“There is no Achilles’ heel in America with Donald Trump as president,” Hassett said. “The retaliatory measures that we can take would be profoundly disruptive to their economy.
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