China, the United States, and a Critical Chokepoint on Minerals
CFR President Michael Froman shares his take on the United States’ dependence on China for critical minerals—and how the country can begin to compete.
The two biggest impediments to the United States lessening its dependence on China are time and money.
we need to invest for the long term by boosting U.S. supply through price floors, offtake agreements, tax breaks, and regulatory relief.
As noted by economic experts such as Peter Harrell and Daleep Singh, collaboration with allies and partners is key to creating a global ecosystem of trusted critical mineral producers.
- Investing for the long term
- Boosting U.S. supply
- Working with allies and partners
These mines and production facilities take years to come online, with the average mine in the United States taking almost twenty-nine years, according to S&P Global’s estimate.
Author's summary: The US depends on China for critical minerals and needs to invest for the long term to compete.
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