The Trump administration is drafting an executive order to allow the storage of deep water metals to counteract China’s domain in battery minerals and rare earth supply chains, Financial Times reported on Saturday, citing people familiar with the matter.
According to the plans, the reserve “would create large lists and available in the territory of the United States to be used in the future”, in case of a conflict with China that could limit imports of metals and rare earths, added the report.
Last week, China placed some elements of rare earths under export restrictions as part of its response to the rate package of President Donald Trump, which potentially cut the US. UU. Of vital minerals for everything, from smartphones to electric car batteries.
The reserve is considered as part of a broader impulse to accelerate deep water mining applications under US law and to create processing capacity on land, the report added.
China produces about 90% of the refined rare lands of the world, a group of 17 elements used in defense industries, electric vehicles, clean and electronic energy. The United States imports most of its rare lands, and most come from China.
The White House and China’s Ministry of Foreign Affairs did not immediately respond to Reuters Comments requests.
(This story has not been edited by NDTV staff and was automatically generated from a union feed).
