In a stark warning that resonates like a wakeup call for the United States, Scott Bessent has declared a critical emergency in the nation’s industrial policy. Speaking with urgency, Bessent highlighted the dire need for the U.S. to break free from dependency on adversaries, particularly in the realm of rare earth elements and magnets—essential components for technology and manufacturing.

Without immediate action, he argues, the U.S. economy faces a catastrophic vulnerability, particularly in the semiconductor sector, where an alarming 99% of high-value chips are produced in Taiwan. As global tensions rise, the stakes have never been higher. Bessent emphasized that efforts to repatriate manufacturing—ranging from semiconductors to pharmaceuticals—are not just strategic; they are essential for national security. Under the leadership of former President Trump, a coalition within the White House is pushing for a robust industrial policy, warning that failure to derisk the economy by January 2029 would spell disaster.

Bessent’s message to Congress is clear: decisive action and significant investment are imperative. The recent COVID-19 pandemic served as a harsh beta test, exposing the fragility of supply chains dominated by unreliable foreign sources. Alarmingly, 80-90% of precursor pharmaceutical products for essential medications, including 𝘤𝘩𝘪𝘭𝘥ren’s antibiotics, are sourced from China and India. This dependency poses an existential threat that must be addressed immediately.

As the clock ticks, the call to action is urgent. The U.S. must reclaim its manufacturing prowess to safeguard its economy and its future. The time for complacency has passed; the nation stands at a crossroads, and the path forward demands bold, immediate steps. Will Congress rise to the occasion, or will America’s economic security hang in the balance?