Here's your Forbes Daily Briefing for Thursday, April 24th.

Today on Forbes, the only U.S. rare earth mine may win big from Trump's China tariffs.

Since China retaliated against President Trump's tariffs by restricting exports of rare earth minerals,

crucial to making the magnets that go into

electric motors, used for cars, electronics, robots, and wind turbines, MP Materials founder

and CEO Jim Latinsky's phone has been ringing off the hook from companies desperate

for new suppliers.

He told Forbes, quote, the sense of urgency, I've never seen anything like it. It's pretty wild and exciting,

and daunting. Littinsky runs the only U.S. rare earth's mine, mountain pass in California's

Mojave Desert, supplying elements like neodymium and praesiodemium that industries like defense,

automotive, and electronics rely on to build efficient electric motors.

Once Littinsky's staff of over 800 engineers, technicians, and miners, harvest the minerals

from the earth, MP refines them, turning them into metals, which companies

like General Motors need for EV motors. Starting this year, MP will also make high-powered

magnets with those metals and a new plant in Texas, a market China currently dominates.

90% of all rare earth metals are processed in China.

The country produces nearly 95% of all rare earth magnets,

prized for their strength and long-term retention of magnetic properties,

and virtually all of the 7,000 tons the U.S. imports each year came from China.

This is a clear vulnerability in American

company's supply chains that rely on them for their products. As Trump's tariff war escalated,

China on April 4th announced it was restricting U.S.-bound exports of so-called heavy, rare

...