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Lithium and other elements that the U.S. needs for vital defense, energy, and other applications could become harder to obtain if the Trump administration goes ahead with tariffs and other protectionist policies aimed at China.China refines more than 90% of the global supply of so-called “rare earth elements,” which include neodymium and dysprosium. Not actually rare, these 17 elements are difficult to mine and refine because they’re not often found in concentrated deposits. Some elements, like lithium, are usually mentioned along with rare earth elements, because they are also critical for the tech sector.Without them, cellphones wouldn’t vibrate and computer hard drives wouldn’t operate. They’re used in wind turbines, electric cars, and other industries the U.S. has sought to develop.The U.S. imports more than 80% of its rare earth elements, with most of those imports coming from China. A trade war impacts cellphone and other tech companies making their products in China when they have to ship those products to the U.S. and pay an import tariff.President Donald Trump imposed 10% tariffs on all Chinese imports to the U.S. earlier in February. That was on top of existing tariffs on specific Chinese goods dating back to Trump’s first term. China has since retaliated with up to 15% tariffs on a range of U.S. goods and more export controls on elements critical to the production of modern high-tech products.Development and growth plans for smartphone makers, renewable energy companies, and the broader technology sector all depend in part on access to rare earth elements. Apple has been increasing its use of recycled materials for its batteries and devices to help lower its need for newly mined and refined materials.Demand is only expected to grow over the next few decades, especially with advances in computing power and artificial intelligence technology.The International Energy Agency expects total demand for rare earth elements to surge 72% to 134 kilotons between 2021 and 2030. Supply requirements are expected to rise at roughly the same rate, but the total amount would lag demand at 98 kilotons.Rare earth metals have been behind some recent geopolitical issues as the U.S. and other nations try to access sources outside of China. The U.S. is the world’s second biggest producer of rare earth metals, with about 12% of the global total.President Donald Trump’s pitch to acquire Greenland comes amid climate change that is expected to make more of the Arctic island’s resources available. Melting ice is expected to make rich deposits of rare earth elements, lithium, and other natural resources more accessible.Trump has also mentioned future aid deals with Ukraine, another source of rare earth elements. Damian J. Troise, AP Business Writer
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E-Commerce
There are plenty of questionable examples of companies shoehorning useless artificial intelligence features into their products (Meta’s AI-powered profiles say hello!), but finally, Crocs has found one that actually makes sense. The casual footwear brand has partnered with ABLO, an AI fashion design platform, to let people use AI to design their own Jibbitz charms. Crocs are already all about customization, a strategy that’s helped the brand grow its revenue 4% over last year. Jibbitz charms, which can be plugged into the holes on the shoes’ upper and heel strap, add an extra layer of personalization, and AI takes that to the next level. “We have Jibbitz for everyonefrom teachers to gamers to healthcare workersand we are now giving our fans the option to design one-of-a-kind charms using ABLOs AI technology, taking customization to the next level,” Crocs brand president Anne Mehlman tells Fast Company. [Photo: courtesy of Ablo] ABLO’s platform lets users either upload a photo or enter a text prompt and then choose from different art styles to create their custom Jibbitz design before proceeding to the Crocs website for purchase. ABLO’s platform is built on Story Layer-1 blockchain, which was designed to tokenize and automatically add attribution to intellectual property. That allows creators to protect and profit off their work even while making it free to remix, and it means IP owners can sell their own Jibbitz designs with licensing terms and provenance already embedded. Crocs says Jibbitz consumers are among their most valuable, and on the company’s most recent earnings call, CEO Andrew Rees says introducing fresh new Jibbitz products and getting them to market faster are among their strategic priorities for 2025. AI-generated Jibbitz certainly fits within that plan. “Jibbitz have always been a fun way for everyone to express their personality,” Michael Scarpellini, head of partnerships at Space Runners, which operates ABLO, said in a statement. “With ABLO, were giving them the freedom to take personalization to the next level, letting their creativity shine on every pair of Crocs.” While Jibbitz charms come in all shapes and sizes, ABLO’s AI-generated charms are currently limited to circles, like a button maker. Unfortunately, that means that custom fried chicken Jibbitz aren’t on the menu.
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E-Commerce
President Donald Trump said that he likes the idea of giving some of the savings from Elon Musk’s Department of Government Efficiency back to U.S. citizens as a kind of dividend.He said at an investment conference in Miami on Wednesday that the administration is considering a concept in which 20% of the savings produced by DOGE’s cost-cutting efforts goes to American citizens and another 20% goes to paying down the national debt.Trump also said the potential for dividend payments would incentivize people to report wasteful spending.“They’ll be reporting it themselves,” Trump said. “They participate in the process of saving us money.”Later, as he flew back to Washington aboard Air Force One, he was asked by a reporter about the plan floated by Musk.“I love it,” the Republican president told reporters on the plane.A day earlier, Musk wrote on his social media platform that he “will check with the President” in response to a suggestion that Trump and Musk should announce a “DOGE Dividend” that would send a refund to taxpayers from part of the savings created by DOGE. Its efforts have already led to thousands of federal government employees being fired or laid off. Chris Megerian, Associated Press
Category:
E-Commerce
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