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Stock impact report

The Trump administration is putting millions into a minerals company backed by the president's son [Yahoo! Finance]

USA Rare Earth, Inc. (USAR) 
Company Research Source: Yahoo! Finance
administration and a venture capital firm that counts the president's son, Donald Trump Jr., as a partner Vulcan Elements, which aims to shore up U.S. access to key materials for high technology, has gone from a $200 million valuation to a potential $2 billion one, according to a Bloomberg analysis Over the summer, 1789 Capital , which Trump Jr. joined shortly after his father was elected , joined a group of investors backing the firm, which hopes to help the U.S. develop mineral-processing capacity that's largely in the hands of China. The Trump administration , which watched as rare-earth minerals became a bargaining chip in tariff negotiations with Beijing, soon followed, offering the company a record-breaking $620 million Defense Department loan, as well as $50 million in CHIPS Act incentives, securing the Commerce Department an equity stake in the company. The investments deepened ties between 1789 and the administration. In 2019, 1789 co-founder Chris Buskirk founded the Show less Read more
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