Trump Holds Back Tariffs on Critical Minerals, There's a Big Plan Behind It
US President Donald Trump said on Wednesday that he has chosen to delay imposing tariffs on rare earth metals, lithium, and other critical minerals. In the meantime, Trump has instructed his administration to seek supplies from international trading partners. This decision comes amid legal uncertainty regarding the tariff policy, which is currently under review by the Supreme Court.
This move is considered to prevent further disruption to the US economy. However, it also has the potential to upset the domestic mining sector. Trump has openly acknowledged that the United States is still not self-sufficient in meeting its critical mineral needs.
Trump has ordered US Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick to negotiate with trading partners. The goal is to adjust mineral imports so they do not threaten US national security. He is also pushing for the implementation of minimum prices for critical minerals, an idea long supported by Western countries.
If these negotiations fail, Trump said he would consider establishing minimum import prices or taking other steps. However, he did not elaborate on the next steps. This decision follows recommendations from Lutnick, who previously conducted a national security review of critical minerals. In the report, the US government assessed the country as overly dependent on foreign supplies, particularly from China. China is currently the primary producer and processor of most of the world's critical minerals. Trump emphasized that domestic mining alone is insufficient if the US continues to rely on other countries for mineral processing. (az)
Source: Newsmaker.id
