Pentagon Will Act if Rare Earth Shortage Occurs

Reuters reported that Brett Lambert, the Pentagon official in charge of industrial policy, said that the US Defense Department will take action if the US faces a rare earth shortage.

As quoted in the market news:

“If we see restrictions, we would look to activate one of many measures, including contingency contracting” that lets U.S. defense contractors buy materials on behalf of the Pentagon, Lambert, the U.S. deputy assistant secretary of defense for manufacturing and industrial base policy, said today in an interview. “The tripwire” for such action is “if we are unable to meet requirements.”

Click here to read the full Reuters report.