Senators Coons, Young introduce legislation to strengthen critical minerals supply chains

WASHINGTON - U.S. Senators Chris Coons (D-Del.), Todd Young (R-Ind.), John Cornyn (R-Texas), and John Hickenlooper (D-Colo.) introduced the Securing Trade and Resources for Advanced Technology, Economic Growth, and International Commerce (STRATEGIC) Minerals Act to strengthen America's supply chain for critical minerals and rare earth elements (REEs).

Critical minerals and REEs are essential resources for many 21st-century technologies, from cell phones to supercomputers to military weapons. Unfortunately, they are highly vulnerable to supply chain disruption, and China's aggressive effort to control these resources presents a significant national and economic security risk. The STRATEGIC Minerals Act would empower the president to negotiate and enforce sector-specific free-trade agreements exclusively focused on critical minerals and REEs with trusted partners and allies, thereby bolstering cooperation, reducing trade barriers, and enhancing economic security.

"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," said Senator Coons. "The STRATEGIC Minerals Act will decrease our dependence on unreliable entities and strengthen America's access to the resources we need."

"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," said Senator Young. "Negotiating more trade agreements on critical minerals with trusted partners will help shore up our supply of these resources, protect American interests, and strengthen our national security."

"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," said Senator Hickenlooper. "China's only leading because we're letting them. Our bipartisan bill is a course correction our country desperately needs."

Specifically, the STRATEGIC Minerals Act would:

• Authorize the president, through the U.S. Trade Representative, to negotiate, enter into, and enforce specialized trade agreements focused on critical minerals and REEs, subject to congressional approval;

• Set trade negotiation objectives to strengthen supply chains of critical minerals and REEs, aiming to reduce or eliminate trade barriers with trusted allies to ensure reliable access and reduce dependence on adversarial nations;

• Exclude non-market economies like China and prevent foreign entities of concern from benefiting, allowing only trusted partners to participate in order to safeguard our national security;

• Require the president to consult with Congress before initiating negotiations, providing details on objectives and potential impacts and ensuring legislative oversight; and

• Amend the Defense Production Act of 1950 to include certain businesses from countries party to such agreements in the definition of domestic sources under strict conditions, strengthening U.S. access to critical minerals essential for national security while prioritizing American interests.

This legislation builds on Senators Coons' earlier efforts to reduce our reliance on China for critical minerals essential to national security. Earlier this year, Senator Coons joined a group of his Senate colleagues to introduce the bipartisan Global Strategy for Securing Critical Minerals Act, which would ensure that the United States, its allies, and global partners can count on a diverse and secure end-to-end supply of critical minerals. In October, Senators Coons and Young introduced the Critical Minerals Future Act, which would establish a pilot program within the U.S. Department of Energy to financially support domestic critical mineral processing projects.

The full text of the bill is available here.