Bill > S2839

This bill establishes the Critical Minerals Security Alliance, a strategic initiative aimed at reducing U.S. dependence on China for critical minerals and creating a more robust domestic minerals industry. The bill authorizes the U.S. Trade Representative to negotiate with partner countries to form an alliance that will increase duties on critical minerals and derivative products from countries of concern, eliminate duties among alliance members, and establish mechanisms to prevent circumvention of trade rules. Countries can join the alliance by agreeing to increase duties on minerals from China, participate in regular meetings, review and share their mineral extraction capacities, and take actions to address unfair trade practices. The bill also creates a trust fund to support U.S. critical mineral mining and processing projects, with 60% of funds allocated to the Department of Energy, 20% to the Department of Defense, and 20% to the U.S. International Development Finance Corporation. The legislation is motivated by concerns about China's dominance in critical mineral production and its potential to use this economic leverage as a strategic tool, with the goal of building a more resilient and diversified mineral supply chain for U.S. defense, manufacturing, and energy needs.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2839/all-info