President Donald Trump on Wednesday opted not to impose tariffs on critical minerals coming into the U.S., instead calling on his top officials to forge deals with allies and consider the use of price floors.
It’s a strategy that reflects the White House’s careful stepping around affordability and the nation’s economic health, a tenuous trade deal with Beijing, and the need for processed minerals used in everything from military and energy to batteries, cellphones and laptops, according to experts.
“The administration is increasingly facing backlash from the public about affordability, and announcing more price-raising tariffs may not be well received by a public that is growing more skeptical of the president’s economic strategy,” said Thibault Denamiel, a fellow in the Center for Strategic and International Studies’ economics program.
“The administration seems to be moving to a place where they understand they cannot go at it alone when it comes to strengthening U.S. critical minerals supply chains — the [executive order] alludes to working with trading partners to reach concrete deals,” he added.
