Story perspectives
New SC Rare Earth Plant Revives U.S. Manufacturing
11/8/2025
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Story summary
- Treasury Secretary Scott Bessent said South Carolina's new rare earth mineral processing center will cut costs, reduce China's influence, and help revive U.S. manufacturing with the first U.S.-made magnet in 25 years.
- Bessent highlighted the plant's rapid permitting process.
- He credited U.S. President Donald Trump for efforts to bring manufacturing jobs back.
- Bessent claimed inflation has decreased under Trump.
