Caixin: Lawmakers Seek to Curb U.S. Reliance on China for Rare Earths
Thu September, 2020, Age: 3 years
U.S. House lawmakers introduced a bipartisan bill aimed at reducing dependence on China for rare earths used in everything from electric vehicles to missiles to wind turbines. The legislation co-authored by Republican Lance Gooden and Democrat Vincente Gonzalez, both of Texas, is similar to that introduced in May by Senator Ted Cruz. The measure would give tax incentives for companies involved in the mining, reclaiming and recycling of critical minerals and metals from deposits in the U.S. The bill is part of a push in Congress to shift supply chains, particularly in industries critical for national defense, away from China and back toward the U.S. The effort has drawn broad support from domestic rare earth companies.