defense

Erik Prince, the well-connected American defense contractor, is in contact with the junta to provide assistance, according to people familiar with the approach.

That means American auto, electronics and defense companies wishing to import Chinese rare earth magnets still must undergo the onerous process of securing government licenses, which can take many weeks and sometimes result in denials.

Rare-earth materials are used to produce magnets essential for a range of industries, including the technology, autos, defense and renewable energy sectors.

Treasury Secretary Scott Bessent recently announced that the government would create a strategic minerals reserve, not just for defense, but for national economic security — something the private sector can dip into.

This is the Costco model of national defense: buy in bulk, expect casualties, keep the replacements coming.