South Carolina rare earth facility targets China supply chain chokehold”

South Carolina rare earth facility targets China supply chain chokehold”

Standing on the floor of EVAC’s new rare-earth magnet processing center in Sumter, South Carolina, Treasury Secretary Scott Bessent cast the facility as a turning point. “This is the first magnet made in the U.S. in 25 years — we’re ending China’s chokehold on our supply chain,” he said. The materials made here go into everyday and strategic products, such as smartphones, cars, wind turbines, fighter jets, and missile systems. “We’re finally bec…