RESOURCES: HOW RARE EARTHS BECAME GROUND ZERO IN THE U.S.-CHINA RIVALRY

THE WATERSHED moment came in July when the federal government became the largest shareholder of MP Materials, a California miner of rare earth elements.

- BY JORDAN BLUM

THE WATERSHED moment came in July when the federal government became the largest shareholder of MP Materials, a California miner of rare earth elements.

The government's unusual foray into private industry was accompanied by new rules setting minimum U.S. market prices for some of the minerals a floor it said was necessary to protect against Chinese competitors accused of "dumping" their goods at artificially low prices.

So began the Trump administration's campaign to overturn China's 30-year dominance in critical minerals that have become integral to the products that drive America's economy and bolster its national security-from drones and automobiles to data centers and missiles.