U.S. Economic Adviser Expresses Concern Over China's Rare Earth Export Limits

Kevin Hassett highlights concerns over China's rare earth mineral export limits, crucial for tech manufacturing. The U.S. examines options in response, amid broader trade tension. Despite these developments, Hassett remains confident in the economy, dismissing recession fears linked to Trump's trade policies.

The U.S. government is on high alert following China's decision to halt exports of vital rare earth minerals, essential for technology and electronics production. Kevin Hassett, a leading economic advisor to President Trump, described the situation as 'concerning' and indicated that all potential strategies are currently under review.

Speaking to reporters at the White House, Hassett emphasized the gravity of the rare earth export restrictions. He assured that the administration is carefully analyzing the implications as part of a broader response to global trade dynamics influenced by the U.S. tariff policies.

Despite these challenges, Hassett conveyed optimism about the U.S. economy's resilience, asserting to Fox Business that the administration does not foresee a recession, even as tensions over trade continue to escalate.

(With inputs from agencies.)