Key events

President Donald Trump on Tuesday ordered a probe into potential new tariffs on all US critical minerals imports, a major escalation in his dispute with global trade partners and an attempt to push back on industry leader China.

The order lays bare what manufacturers, industry consultants, academics and others have long warned Washington about: that the US is overly reliant on Beijing and others for processed versions of the minerals that power its entire economy, Reuters reported.

China is a top global producer of 30 of the 50 minerals considered critical by the US Geological Survey, for example, and has been curtailing exports in recent months.

Trump signed an order directing Commerce Secretary Howard Lutnick to begin a national security review under section 232 of the Trade Expansion Act of 1962. That is the same law Trump used in his first term to impose 25% global tariffs on steel and aluminium and one he used in February to launch a probe into potential copper tariffs.

US dependency on minerals imports “raises the potential for risks to national security, defense readiness, price stability, and economic prosperity and resilience,” Trump said in the order.


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