Back to today’s briefing

Story perspectives

Trump Considers Tariffs on Chinese Rare Earths to Boost U.S. Mining

1/31/2026

38 7 Full Breakdown

Summary

Story summary

The U.S. administration led by U.S. President Donald Trump is considering tariffs on Chinese rare earths to bolster domestic mining and processing.
The move to reduce reliance on China will be discussed with allies, including Australian Resources Minister Madeleine King.
The tariffs would allow the United States to avoid one-off deals that set price floors for rare earths, which are crucial for defense and technology sectors.

History

Historical Context

The Smoot-Hawley Tariff Act of 1930 raised U.S. tariffs on over 20,000 goods, aiming to protect American industries during the Great Depression. This protectionist measure led to retaliatory tariffs from countries like Canada and the UK, causing international trade to plummet by about 66%. Today, similar tariff considerations by President Trump reflect ongoing tensions in U.S.-China trade relations.

1 of 2

Story summary

The U.S. administration led by U.S. President Donald Trump is considering tariffs on Chinese rare earths to bolster domestic mining and processing.
The move to reduce reliance on China will be discussed with allies, including Australian Resources Minister Madeleine King.
The tariffs would allow the United States to avoid one-off deals that set price floors for rare earths, which are crucial for defense and technology sectors.

1 / 2