Hoosier State Today

U.S. Senators Todd Young, Chris Coons, John Cornyn, and John Hickenlooper have introduced the Securing Trade and Resources for Advanced Technology, Economic Growth, and International Commerce (STRATEGIC) Minerals Act. This legislation aims to enhance the United States' supply chain of critical minerals and rare earth elements.

The proposed bill addresses concerns about the vulnerability of critical mineral supply chains and China's influence over these resources. It seeks to empower the president to negotiate sector-specific free trade agreements focused on critical minerals with trusted allies. This initiative is intended to bolster cooperation, reduce trade barriers, and improve national security.

Senator Young emphasized the importance of securing these resources: "Our nation relies on critical minerals for everything from consumer goods to defense technologies, and a dependence on foreign adversaries for these materials is a national security vulnerability we cannot afford."

Senator Coons highlighted the strategic importance of strengthening supply chains: "Working with allies and partners to strengthen supply chains for critical minerals will help our national security and position us to play a leading role in producing the technologies that will define the rest of the 21st Century."

Senator Cornyn noted China's dominance in this sector as a risk: "China dominates the critical minerals supply chain, which leaves America vulnerable to national security risks." He stated that this legislation would boost America's competitiveness globally.

Senator Hickenlooper pointed out China's control over essential minerals: "China controls many of the minerals that are essential to our national security, our ability to address climate change, and to the microchips that power our modern way of life." He described their bipartisan bill as necessary for correcting course.

The STRATEGIC Minerals Act builds upon previous efforts by Senator Young aimed at ensuring U.S. access to critical mineral supplies while countering Chinese industry manipulation.