Treasury Secretary Scott Bessent told FOX Business’ Edward Lawrence that South Carolina’s new rare earth mineral processing center will help cut costs and break China’s “chokehold” on industry.
In an exclusive sit-down interview, Bessent said that the plant marked a manufacturing comeback and will create jobs and ease prices as President Donald Trump’s economy takes shape.
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“This is the first magnet made in the U.S. in 25 years — we’re ending China’s chokehold on our supply chain,” Bessent said.
“President Trump was committed to bringing the manufacturing jobs back to America and this is the start.”
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