China is significantly reducing the cost of critical minerals by flooding the global market, a move that is making it increasingly difficult for American companies to remain competitive, according to U.S. Interior Secretary Doug Burgum.
Speaking on the matter, Secretary Burgum highlighted concerns that this strategy from China could have significant ramifications for domestic industries that rely heavily on critical minerals, such as those involved in renewable energy, electric vehicles, and advanced technology manufacturing.
Critical minerals, including rare earth elements, lithium, and cobalt, are essential for a variety of high-tech applications and are considered vital to national security. The U.S. currently remains heavily dependent on imports for many of these materials, with China being a dominant global supplier.
Burgum’s comments underscore growing tensions between the U.S. and China over control of the critical minerals supply chain and follow ongoing discussions in Washington about developing domestic mining capabilities and diversifying supply sources.
Policymakers have previously raised alarms about the strategic risks associated with foreign dependency for these raw materials, calling for increased investment in domestic extraction and processing facilities.
The Biden administration has emphasized the need for a resilient and secure supply chain for critical minerals to support U.S. manufacturing and clean energy goals. Burgum’s remarks add urgency to these efforts amid concerns of market manipulation by the Chinese government.
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