Lawmakers are scrambling to figure out how the U.S. can reduce its dependence on China for rare earths and key minerals within a year — a deadline cooked into an agreement that President Donald Trump is forging with Beijing.
That clock is running as Trump officials push an aggressive strategy to counter the Asian giant, including taking partial ownership of at least three mineral companies — a move that’s making some Republicans squeamish.
“The Trump administration’s recent deal with China essentially gives the United States and our allies about a year to become less reliant on Beijing for critical minerals,” said Rep. John Moolenaar (R-Mich.), chair of the House Select Committee on Strategic Competition between the United States and the Chinese Communist Party, at a hearing Wednesday.
Trump told reporters last month that Chinese officials have agreed to suspend its restrictions on rare earth mineral exports under a “one-year agreement” that will likely be “routinely extended.” Treasury Secretary Scott Bessent on Sunday said during an interview on Fox News that he’s hopeful the agreement will be finished by Thanksgiving.
