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Bloomberg Quint

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Image Credit: Bloomberg Quint

Trump Plans Order To Enable Critical Metals Stockpiling: Report

  • 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 domestic production of critical minerals and reduce reliance on foreign imports, especially from China.
  • The order would fast-track deep-sea mining applications and create a stockpile of critical metals, including rare earth minerals, giving the US access to its own inventory in case of a conflict with China.
  • China is the world's largest supplier of rare earth minerals, accounting for almost 70% of global production, according to the US Geological Survey.

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