Sec. 2. Findings
189 words·~1 min read·
/bill/117/s/3962/is/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress makes the following findings: The People’s Republic of China is the global leader in mining, refining, and component manufacturing of critical minerals, producing approximately 85 percent of the world’s supply between 2011 and 2017. In 2019, the United States imported an estimated 80 percent of its critical minerals from the People’s Republic of China. On March 26, 2014, the World Trade Organization ruled that the People’s Republic of China’s export restraints on critical minerals violated its obligations under its protocol of accession to the World Trade Organization, thereby harming United States manufacturers and workers.
The Chinese Communist Party has threatened to leverage the People’s Republic of China’s dominant position in the critical minerals market to strike back at the United States. The Quadrilateral Security Dialogue is a strategic security dialogue comprised of the United States, Australia, Japan, and India that facilitates multilateral cooperation in areas of shared interest to advance a free and open Indo-Pacific region. The Quadrilateral Security Dialogue is an effective partnership for reliable multilateral financing, development, and distribution of goods for global consumption, as evidenced by the Quad Vaccine Partnership announced on March 12, 2021.