U.S. Revives Rare Earth Magnet Production: A Strategic Shift in Global Supply Chains The U.S. has marked a pivotal moment by producing its first rare earth magnet in 25 years at e-VAC Magnetics in Sumter, South Carolina, a direct response to China's dominance in this critical sector. Treasury Secretary Scott Bessent highlighted President Trump's executive order as the catalyst, aiming to reclaim control over materials vital for defense, electric vehicles, and renewable energy. This 500,000-squar