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Image Credit: Bloomberg Quint

Trump Plans Order to Enable Critical Metals Stockpiling: FT

  • US President Donald Trump’s administration is planning an executive order to allow the stockpiling of critical metals from the Pacific seabed, according to the Financial Times.
  • Trump has already invoked emergency powers to boost the ability of the US to produce critical minerals and make the country less reliant on foreign imports, especially from China.
  • There is a push to fast-track deep-sea mining applications under US law and the stockpile of metals, including rare earth minerals, is being considered as part of that effort.
  • China is the world's biggest supplier of rare earth minerals, accounting for almost 70% of the world's production.

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