Trump plans to invoke emergency powers to fast-track critical minerals domestic production

Trump plans to invoke emergency powers under the Defense Production Act to fast-track domestic production of critical minerals, bypassing some legal and funding requirements.

• The move aims to counter China’s dominance in the critical minerals supply chain, especially after Beijing recently restricted exports in response to U.S. trade tensions.

• Trump’s waivers would remove limits such as requiring congressional approval for projects over $50 million and strict delivery timelines.

• This follows a similar use of emergency waivers by former President Biden during the COVID-19 pandemic.

• Experts warn the U.S. remains reliant on China in the short term, with any domestic efforts to boost mineral supply likely to take 5–10 years.

The info is via Reuters, posted late in the US afternoon.

This article was written by Eamonn Sheridan at www.forexlive.com.