I read recently that the US has the 5th largest (known) reserves of lithium in the world. However refining it is one of the worst processes in the world, so we remain happy to let others do it and foul their nest - up until we can’t get it any more, by which time it may be too late.
Lithium is not rare and can be mined in the US. Much comes from South America and gets refined in China. All of that is changing. US companies are investing in US mining and processing. Environmental laws make it difficult. I think we wish them much success, but don’t hold your breath. Show me some profits.
Rare earths is more difficult. We don’t hear much about that these days. Companies are working on it, but not making lots of news. Very messy. And final purification still goes to China I think.