WASHINGTON (Reuters) - The U.S. Commerce Department on Tuesday recommended urgent steps to boost domestic production of rare earths and other critical minerals, warning that a halt in Chinese or Russian exports could cause “significant shocks” in global supply chains.
The report includes 61 specific recommendations - including low-interest loans and “Buy American” requirements for defense companies - to boost domestic production of minerals essential for the manufacture of mobile phones and a host of other consumer goods, as well as fighter jets.