Indy Standard

U.S. Senators Todd Young, Chris Coons, John Cornyn, and John Hickenlooper have introduced the Securing Trade and Resources for Advanced Technology, Economic Growth, and International Commerce (STRATEGIC) Minerals Act. This bill aims to enhance the United States' supply chain of critical minerals and rare earth elements.

Critical minerals are crucial resources that face risks of supply chain disruptions. China’s control over these elements poses significant threats to national and economic security. The proposed legislation seeks to empower the president to negotiate and enforce free trade agreements specifically targeting critical minerals and rare earth elements with trusted partners. This move is intended to boost cooperation, lower trade barriers, and strengthen national security.

Senator Young emphasized the importance of reducing dependence on foreign adversaries for critical materials: “Our nation relies on critical minerals for everything from consumer goods to defense technologies, and a dependence on foreign adversaries for these materials is a national security vulnerability we cannot afford.” He further noted that negotiating trade agreements with trusted partners would help secure resources and protect American interests.

Senator Coons highlighted the strategic importance of working with allies: “Working with allies and partners to strengthen supply chains for critical minerals will help our national security and position us to play a leading role in producing the technologies that will define the rest of the 21st Century.” He believes the STRATEGIC Act will reduce reliance on unreliable entities while ensuring access to essential resources.

Senator Cornyn pointed out China’s dominance in this sector as a national security risk: “China dominates the critical minerals supply chain, which leaves America vulnerable to national security risks.” According to him, reinforcing America's supply chain through this legislation would increase competitiveness globally.

Senator Hickenlooper commented on China's current position: “China controls many of the minerals that are essential to our national security, our ability to address climate change, and to the microchips that power our modern way of life.” He sees this bipartisan bill as necessary corrective action for U.S. interests.

The STRATEGIC Minerals Act builds upon Senator Young's previous efforts concerning U.S. access to critical mineral supply chains amid China's industry manipulation.