House Panel Examines Strategies to Reduce U.S. Dependence on China for Critical Minerals
The House Ways and Means Committee held a hearing on September 2 to address securing critical mineral supply chains and reducing U.S. reliance on China. China currently dominates the production of 30 out of 60 U.S.-designated critical minerals and controls approximately 90% of global rare earth processing capacity. The Trump administration has made this a priority since January 2025, implementing executive orders to boost domestic mineral production and processing. Key initiatives include Project Vault, a strategic critical minerals reserve supported by a $10 billion Export-Import Bank loan, and the Critical Minerals Ministerial, which established the Forum on Resource Geostrategic Engagement (FORGE) for international cooperation. The U.S. has also signed 11 new bilateral critical minerals agreements with countries like Argentina, Ecuador, and Morocco. Witnesses at the hearing, representing various research and advocacy groups, discussed trade, investment, and development policies aimed at diversifying the...