Trump administration expands state's role in economy to reduce dependence on China - NYT
Kyiv • UNN
The administration of US President Donald Trump will significantly expand the state's role in the economy, increasing its stake in strategic companies. This is aimed at reducing dependence on China in the supply chains of rare earth minerals and technologies.
The administration of US President Donald Trump has decided to significantly expand the state's role in the economy by increasing its stake in companies operating in strategically important sectors. This is being done to reduce dependence on China for global supply chains of rare earth minerals and technologies, UNN reports with reference to The New York Times.
Details
As US Treasury Secretary Scott Bessent noted, China's dominance in the supply of rare earth metals requires a "more decisive industrial policy" from the United States.
According to him, the new approach of the Trump administration involves more active state intervention in strategic sectors of the economy - from defense to the production of semiconductors, mineral resources, and other equally important things.
Such steps, according to the minister, will allow the US to protect its own interests in the areas of national security and technology.
Recall
US President Donald Trump announced the introduction of an additional 100% tariff on Chinese goods from November 1, 2025. This decision is a response to Beijing's "aggressive stance" on international trade and export controls.