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Scott Bessent: “In South Carolina, for the first time in 25 years, there's a…”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

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Conversation with Scott Bessent, US Secretary of the Treasury | WEF Annual Meeting 2026

Published | Video Starts at 28:51

We're the an energy superpower. And I would say 18 to 24 months. I went down about two months ago to my home state of South Carolina. And In South Carolina, for the first time in 25 years, there's a producer there who made rare earth magnets. So they are starting to come off that the supply chain. They believe that within two years they can fulfill most of the rare earth magnets, magnet needs for the … (28:51–28:59)

CLAIM

Asserts that a producer in South Carolina has started making rare earth magnets for the first time in 25 years.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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