Bipartisan U.S. Lawmakers Propose to Counter Communist China’s Monopoly on Rare Earth Resources

Translated by: MOS Education Team – Maverick

Report on January 14th: In order to actively counter the Chinese Communist Party’s (CCP) seizure and monopoly of rare earth resources around the world and to protect the United States’ strategic national security needs for rare earth resources, U.S. Republican Senator Tom Cotton and Democratic Senator Mark Kelly jointly proposed the “Restoring Essential Energy and Security Holdings Onshore for Rare Earths Act”. 

This bill requires the U.S. Department of Defense and Department of Interior to establish a strategic reserve of rare earth raw materials and products by 2025, in order to meet the needs of the U.S. military, the defense industry and technology sector, as well as other critical infrastructure for one year to prevent supply chain disruptions. The bill also requires the U.S. Trade Representative’s Office and the Ministry of Commerce to submit reports to Congress on the CCP’s unfair trade practices in the rare earth market.

Proofread by: Saturn

Edited and posted by: Saturn

References:

  1. https://www.cna.com.tw/news/aopl/202201150014.aspx

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