US has plan to strengthen ‘critical minerals’ access

While Commerce calls for increased domestic production of “critical minerals,” it highlights the need to boost investment and trade with countries friendly to the U.S.

US has plan to strengthen ‘critical minerals’ access

While Commerce calls for increased domestic production of “critical minerals,” it highlights the need to boost investment and trade with countries friendly to the U.S.

US has plan to strengthen ‘critical minerals’ access

While Commerce calls for increased domestic production of “critical minerals,” it highlights the need to boost investment and trade with countries friendly to the U.S.

 

   The Commerce Department this week released a report that outlines a strategic plan for how the U.S. could reduce its dependence on foreign supplies of “critical minerals.”
    These minerals, including uranium, titanium and other rare earth metals, are used in numerous high-tech products, such as military equipment, smartphones, aircraft, computers, GPS navigation systems, wind turbines, energy, lighting and batteries. As many as 35 minerals have been identified by the federal government as critical to the U.S. economy and national security.
    In the 50-page report, titled A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals, Commerce determined that imports now account for more than 50% of 31 minerals and the U.S. is now 100% reliant on imports from other countries for 14.
    “Addressing vulnerabilities in the critical minerals supply chain through an increase in domestic exploration, production, recycling, reprocessing, industry incentives and research and development (R&D) investments would help reduce our nation’s reliance on imports, preserve our leadership in technological innovation, support job creation and improve our national security and balance of trade,” the report said.

   The Commerce strategy report was initiated in response to President Donald Trump’s Dec. 20, 2017, Executive Order 13817, which seeks to reduce the country’s reliance on foreign sources of critical minerals and on foreign supply chains.
    While the report focuses mostly on ways to boost domestic production, it recommends accessing and developing critical mineral sources through investment and trade with countries friendly to the U.S.
    In recent years, China has imposed export controls on certain rare earth metals. Today, Canada and Mexico supply all or part of U.S. consumption for many critical minerals, according to Commerce.
    “U.S. access to critical mineral resources abroad and the viability of industries producing these minerals in the United States can be negatively impacted by trade and investment restrictions and by foreign conduct that distorts markets through various forms of unlawful or otherwise unfair competition,” the report warned.
    “Through the recommendations detailed in this report, the federal government will take unprecedented action to ensure that the United States will not be cut off from these vital materials,” said Commerce Secretary Wilbur Ross in a statement.

I am of the opinion that shippers should pray that lines are allowed to continue to operate alliances.

The FBX, a global container freight index measuring spot rates on major global trades, had an overall reading of $1,342 per FEU as of June 14, down 1.5% from a week prior, but up 3.4% from a year prior.

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US has plan to strengthen ‘critical minerals’ access

While Commerce calls for increased domestic production of “critical minerals,” it highlights the need to boost investment and trade with countries friendly to the U.S.

Jun 07, 2019 on Dec 27, 2018AmericanShipper.com

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US has plan to strengthen ‘critical minerals’ access

While Commerce calls for increased domestic production of “critical minerals,” it highlights the need to boost investment and trade with countries friendly to the U.S.

Jun 07, 2019 on Dec 27, 2018AmericanShipper.com