Senators Reintroduce Strategic Minerals Act
Four senators, two from each party, reintroduced a bill that would authorize the U.S. trade representative, in consultation with Congress about objectives, to negotiate specialized trade agreements focused on critical minerals and rare earth elements. Those trade agreements also would need to get a vote of approval from Congress before they could enter into force.
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The Securing Trade and Resources for Advanced Technology, Economic Growth, and International Commerce (Strategic) in Minerals Act was introduced Feb. 6 by Sens. Todd Young, R-Ind.; Chris Coons, D-Del.; John Cornyn, R-Texas; and John Hickenlooper, D-Colo.
“China dominates the critical minerals supply chain, which leaves America vulnerable to national security risks,” Cornyn said in a press release announcing the bill. “By shoring up America’s critical minerals supply chain, this legislation would increase our competitiveness on the world stage, reduce our dependence on foreign adversaries, and foster greater trade with trusted allies.”
“Negotiating more trade agreements specific to critical minerals with trusted partners will help shore up our supply of these resources, protect American interests, and strengthen our national security,” Young said.
The senators originally introduced the legislation to the 118th Congress in December 2024 (see 2412060044).
The bill's language restricts these limited free trade agreements to market economies. It also says any such agreement will provide trade benefits, "including tariff reductions, preferential treatment, or other trade advantages related to critical minerals and rare earth elements, exclusively to countries that are parties to the agreement."