China is manipulating global mineral prices to further its “authoritarian ambitions,” and the U.S. must quickly respond with price controls, tax incentives and stockpiling, according to a bipartisan House investigation unveiled on Wednesday.
The House Select Committee on China made the allegations in a report that accuses Beijing of engaging in a “coordinated, decades‐long scheme to control different critical minerals and bend the global market to their will.”
“As we saw last month with its rule on rare earths, China has a loaded gun that is pointed at our economy, and we must act quickly,” said Rep. John Moolenaar (R-Mich.), who chairs the committee.
“This bipartisan investigation shows that the CCP simply does not play by the rules on critical minerals,” added Rep. Raja Krishnamoorthi of Illinois, the panel’s ranking Democrat who endorsed the report.
