Trump signs order on export curbs to retain critical minerals

Mining

Jul 30

President Donald Trump signed a measure Thursday that gives officials authority under the Defense Production Act to implement export restrictions on some industrial waste in a bid to retain critical ...

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Rowe Price Natural Resources ETF","EVMT":"Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF","POW":"VistaShares Electrification Supercycle ETF","FTWO":"Strive Natural Resources and Security ETF","FMTL":"First Trust Indxx Critical Metals ETF","NSI":"NATIONAL SECURITY EMERGING MARKETS INDEX ETF","EART":"Global X Rare Earth & Critical Materials ETF"},"translate_title":"特朗普签署出口限制令以保留关键矿产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ZSB":1.5,"EVMT":1.5,"EART":1.5,"CCSO":1.5,"MVPS":1.5,"WDIG":1.5,"FMTL":1.5,"CRIT":1.5,"GSFP":1.5,"HALX":1.5,"TURF":1.5,"FTWO":1.5,"IBAT":1.5,"CTEC":1.5,"AKAF":1.5,"POW":1.5,"PWER":1.5,"WEPN":1.5,"NSI":1.5},"content_text":"President Donald Trump signed a measure Thursday that gives officials authority under the Defense Production Act to implement export restrictions on some industrial waste in a bid to retain critical minerals and rare elements contained in those products.\nThe move is the latest effort by the Trump administration to shore up supplies of critical minerals, which are crucial to producing a range of cutting-edge technologies and products, and to reduce US dependence on China for those elements. \nThe presidential determination gives the Commerce secretary authority to institute export restrictions on recoverable critical minerals and materials, or CMMs, according to a White House fact sheet. \nThe US holds substantial CMMs in finished products such as magnets and lithium ion batteries. Those minerals and materials can be “reclaimed and recycled” from those goods, according to the White House.\nTrump’s proclamation marks his latest use of the Cold War-era Defense Production Act to buttress US supply chains and industry. He’s previously tapped authorities under the law to renew oil production off the southern California coast and to support domestic coal power plants.\nThe DPA allows presidents to take unilateral actions to bolster US national defense capabilities, including by directing private-sector companies to expand production of critical industrial materials. \nWhile Trump set the stage for aggressively using the DPA to support American energy and critical minerals development with a declaration his first day in office, he’s far from alone in seizing the statute’s robust authorities. Former President Joe Biden also invoked the law to bolster energy technology, with the aim of boosting domestic production of solar panels, transformers, heat pumps and fuel cells.\nRare earths have gained outsized importance since last year when China placed export controls that rattled US manufacturers. Reopening access to critical minerals and rare earths was a central focus of a broad trade deal the US and China eventually reached that eased tariffs on goods and curbed some export restrictions.\nDespite that detente, the Trump administration has moved to secure alternative sources of those minerals.\n(By Jennifer A. Dlouhy and Skylar Woodhouse)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}