Economic coercion has a half-life: use your leverage once and it is much weaker the second time, because everyone starts substituting away from you.

And what’s more, you use your leverage once, and that leverage has a half-life. It becomes a lot less effective the second time around because other countries, other companies are going to try to substitute away. If China uses the rare earth leverage, which I think it is now a little bit, there will be alternatives and substitutes.