Bill > HR8032

This bill, the Restoring Essential Energy and Security Holdings Onshore for Rare Earths Act of 2022 (REEShore Act of 2022), aims to encourage the extraction and processing of rare earth metals in the United States. It establishes a strategic reserve of rare earth metals and rare earth metal products, requires disclosures from Department of Defense contractors on the provenance of rare earth metal permanent magnets, restricts the use of Chinese-made rare earth metals in military technologies, and investigates potential unfair trade practices by China related to rare earth metals. The bill also encourages U.S. allies to reduce their dependence on non-allied countries for rare earth metals. Key terms include "rare earth metals," which refers to various metallic elements, and "processed or refined," which means changing or manipulating the raw metals to make them usable for manufacturing.