Trump Signs Order on Export Curbs to Retain Critical Minerals

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Dlouhy and Skylar Woodhouse You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — President Donald Trump signed a measure Thursday that gives officials authority under the Defense Production Act to implement export restrictions on some industrial waste in a bid to retain critical minerals and rare elements contained in those products.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe move is the latest effort by the Trump administration to shore up supplies of critical minerals, which are crucial to producing a range of cutting-edge technologies and products, and to reduce US dependence on China for those elements. The presidential determination gives the Commerce secretary authority to institute export restrictions on recoverable critical minerals and materials, or CMMs, according to a White House fact sheet. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe US holds substantial CMMs in finished products such as magnets and lithium ion batteries. Those minerals and materials can be “reclaimed and recycled” from those goods, according to the White House.Trump’s proclamation marks his latest use of the Cold War-era Defense Production Act to buttress US supply chains and industry. He’s previously tapped authorities under the law to renew oil production off the southern California coast and to support domestic coal power plants.The DPA allows presidents to take unilateral actions to bolster US national defense capabilities, including by directing private-sector companies to expand production of critical industrial materials. While Trump set the stage for aggressively using the DPA to support American energy and critical minerals development with a declaration his first day in office, he’s far from alone in seizing the statute’s robust authorities. Former President Joe Biden also invoked the law to bolster energy technology, with the aim of boosting domestic production of solar panels, transformers, heat pumps and fuel cells.Rare earths have gained outsized importance since last year when China placed export controls that rattled US manufacturers. Reopening access to critical minerals and rare earths was a central focus of a broad trade deal the US and China eventually reached that eased tariffs on goods and curbed some export restrictions.Despite that detente, the Trump administration has moved to secure alternative sources of those minerals.—With assistance from Joe Deaux.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.