President Trump Signs Executive Order to Lessen Reliance in China's Minerals
President Trump is still working on his America First agenda as he resumes his dedication to lessen our economic reliance to China.
The Executive Order says, in part:
I, Donald J. Trump, President of the United States of America, find that a strong America cannot be dependent on imports from foreign adversaries for the critical minerals that are increasingly necessary to maintain our economic and military strength in the 21st century. Because of the national importance of reliable access to critical minerals, I signed Executive Order 13817 of December 20, 2017 (A Federal Strategy To Ensure Secure and Reliable Supplies of Critical Minerals), which required the Secretary of the Interior to identify critical minerals and made it the policy of the Federal Government “to reduce the Nation’s vulnerability to disruptions in the supply of critical minerals.” These critical minerals are necessary inputs for the products our military, national infrastructure, and economy depend on the most. Our country needs critical minerals to make airplanes, computers, cell phones, electricity generation and transmission systems, and advanced electronics. Though these minerals are indispensable to our country, we presently lack the capacity to produce them in processed form in the quantities we need.
“Our dependence on one country, the People’s Republic of China, for multiple critical minerals is particularly concerning. The United States now imports 80 percent of its rare earth elements directly from China, with portions of the remainder indirectly sourced from China through other countries,” the order states. “In the 1980s, the United States produced more of these elements than any other country in the world, but China used aggressive economic practices to strategically flood the global market for rare earth elements and displace its competitors.”
“Since gaining this advantage, China has exploited its position in the rare earth elements market by coercing industries that rely on these elements to locate their facilities, intellectual property, and technology in China,” the order states.
American stakeholders are reacting positively to the move.
“This executive order is an important step toward ensuring the U.S. is free from price manipulation and other aggressive economic maneuvers, particularly as perpetrated by China,” Pini Althaus, CEO of USA Rare Earth, said in a statement provided to Breitbart News. “Our processing facility in Colorado is already up and running; our magnet manufacturing plant should be online in less than 12 months, and in early 2023, the Round Top mine in Texas, which hosts 16 of the 17 rare earth elements, lithium, and a significant concentration of elements on the U.S. Government’s Critical Minerals List, will be fully operational.”