Bill > HR6696

This bill, the Restoring American Mineral Security Act of 2025, aims to bolster the United States' supply of critical minerals, which are essential for defense, manufacturing, and energy needs, by establishing a "Critical Minerals Security Alliance." The bill acknowledges the current U.S. dependence on China for many of these minerals and expresses concern that China has used its market dominance to its advantage. To counter this, the bill proposes that the U.S. Trade Representative negotiate with other countries to form this Alliance, requiring potential member nations to increase tariffs on critical minerals and related products from "foreign countries of concern" (which includes Venezuela) to levels comparable to U.S. tariffs on China, or implement similar trade restrictions. Alliance members would also agree to eliminate tariffs on each other's critical minerals, share information on their extraction and processing capabilities, and work together to address threats from foreign countries of concern. Upon the Alliance's formation, imports of critical minerals and certain derivative products (like batteries and permanent magnets) from "foreign countries of concern" would face increased duties, mirroring those applied to Chinese products. Furthermore, duties collected on critical minerals would be deposited into a trust fund to support U.S. mining, processing, and manufacturing projects, with portions allocated to the Department of Energy, the Department of Defense, and the U.S. International Development Finance Corporation for both domestic and international projects within the Alliance. The bill also mandates periodic reviews of the Alliance's effectiveness and the U.S. domestic critical minerals sector.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6696/all-info