Wow this administration is f**ing batshit insane. I thought the tariffs would be on raw metals, not anything at all that happens to contain them.
Wow this administration is f**ing batshit insane. I thought the tariffs would be on raw metals, not anything at all that happens to contain them.
For example, the US has some of the largest lithium deposits in the world, but it's not being exploited because extraction is dirty and polluting, generally the compliance for opening a new mine is very complex (takes 7-10 years), and catching-up on refinery capacity will take an enormous investment (China does almost all Li refining now).
Similarly, developing the techniques to boost oil extraction (fracking, EOR...) took significant and sustained government support of different kinds until it became competitive, it's unclear if market pressure alone would have done it. This made the US again into the largest exporter rather than the largest importer of oil.
There are many such cases.
Note: I'm not from the US, and I'm not particularly pro-US, I'm not saying that tariffs are a good mechanism to support these industries, and I'm not necessarily in favour of such anti-environmental policies. But those are the facts as I understand them.
It's important to get news from politically unbiased sources, because the reality is that US lithium sources are being stood up! Especially in that politically incorrect state of California which is supposedly a hellhole that would never approve something of the sort.
As for tariffs being a good way to support these industries citation needed! It's exactly the opposite type of policy for driving the investment that's needed. It's actually drastically collapsing all of the massive investment that was happening under Biden, in a complete disaster for the US. So I totally agree that you are not pro-US, but let's be honest about the disaster of tariffs.