Boosting U.S. Production of Critical Minerals and Rare Earth Elements
President Trump signed an executive order invoking wartime powers to boost U.S. production of critical minerals and rare earth elements to compete with China, which currently leads in this industry.
Key Points
- U.S. lags behind China in the production of critical minerals and rare earth elements.
- Growing demand for these resources due to defense technology, renewable energy, and consumer electronics.
- Limited U.S. reserves leave the country vulnerable to supply chain disruptions.
- Challenges in identifying and extracting viable mineral deposits in targeted countries.
Pros
- Helps reduce reliance on China for critical minerals and rare earth elements.
- Boosts U.S. production capabilities in key technology components.
Cons
- Threatening other countries for resources may create political issues.
- Commercial viability of mineral deposits in targeted countries remains uncertain.