The plan, part of a broader $100 billion industrial policy vision Harris\u2019 campaign laid out Wednesday, also called for new incentives and the use of emergency government powers under the Cold War-era Defense Production Act to increase domestic processing of critical minerals.<\/p>\n
\u201cIncreased domestic production will be paired with innovative and sustainable steps to build stronger critical mineral supply chains alongside our allies and partners, including by incentivizing investments that expand US and allied production of these resources,\u201d the Harris campaign said in a statement. \u201cThese efforts will reduce our dependence on China, which leads production on many critical minerals.\u201d<\/p>\n
As part of the plan, the campaign said Harris was proposing \u201cAmerica Forward\u201d tax credits to be used in the energy, manufacturing and agricultural sectors that would be \u201clinked to the treatment of workers\u201d and paid for in part by Harris\u2019 proposal to overhaul the international tax system.<\/p>\n
Critical minerals \u2014 which include dozens of materials including antimony, lithium, and cobalt \u2014 are those considered essential to the economy and at risk of supply disruption. The House Select Committee on Strategic Competition between the US and the Chinese Communist Party in December recommended creating a reserve of critical minerals \u201cto insulate American producers from price volatility\u201d and protect against China\u2019s \u201cweaponization of its dominance in critical mineral supply chains.\u201d<\/p>\n
The committee also recommended spending $1 billion to expand an existing National Defense Stockpile, an inventory of critical minerals managed by the Defense Department that is used to provide emergency access to domestic manufacturers for defense purposes.<\/p>\n
\u201cOver the past several decades, China has cornered the market for processing and refining of key critical minerals, leaving the US and our allies and partners vulnerable to supply chain shocks and undermining economic and national security,\u201d the White House said in a statement last week. \u201cAs the world builds a clean energy economy, demand for critical minerals is projected to grow exponentially.\u201d<\/p>","protected":false},"excerpt":{"rendered":"
US Vice President Kamala Harris vowed to create a national stockpile of critical minerals, saying a cache of the materials used in everything from batteries to defense systems is needed for economic and national security.<\/p>","protected":false},"author":2,"featured_media":2211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29,49,16],"tags":[42,33,34],"class_list":["post-2210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-critical-minerals","category-mining-industry","category-mining","tag-ares-strategic-mining-inc","tag-investing","tag-mining"],"acf":{"featured_video_oembed":"","featured_post_summary":"","post_source":""},"_links":{"self":[{"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/posts\/2210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/comments?post=2210"}],"version-history":[{"count":1,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/posts\/2210\/revisions"}],"predecessor-version":[{"id":2212,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/posts\/2210\/revisions\/2212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/media\/2211"}],"wp:attachment":[{"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/media?parent=2210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/categories?post=2210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wallstreetendeavor.com\/de\/wp-json\/wp\/v2\/tags?post=2210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}