I for one was very happy to see tariffs on rare earths. Fundamentally I am against tariffs, but in a case where a foreign state controls the lions share of a critical substance and artificially lowers the market value to retain control of the market, tariffs can and will help to make a fair playing field.
The US lost it’s hold on REs due to China tanking the market value of REs, making it nearly impossible to make a profit mining them in the US. Over regulation just helped play into China’s hand.
I’m a lover of capitalism, but a free market can’t work on its own when China manipulates it.