In a bid to wean the U.S. critical minerals supply chain off China, U.S. President Donald Trump plans to use emergency powers under the Defense Production Act to bolster domestic production and processing of these metals vital for the energy and defense industries, Reuters reports, citing a document to be published on Wednesday.
The Defense Production Act is a U.S. law that grants the President powers to ensure the nation’s defense by expanding and expediting the supply of materials and services from the domestic industrial base.
The White House is set to waive some legal requirements, including requirements for congressional approvals, to boost the U.S. critical minerals industry.
In March, President Trump invoked emergency powers to increase U.S. critical minerals production in a bid to reduce reliance on “hostile foreign powers’ mineral production.”
In an executive order, the U.S. President invoked the Defense Production Act (DPA), which is the main tool at a U.S. president’s disposal to shift economic activity toward national defense priorities.
Poster Comment:
Miners can get bureaucratic relief from over regulations.