Sec. 2. Findings and purpose
429 words·~2 min read·
/bill/119/hr/7037/ih/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that— the United States is heavily dependent on the People’s Republic of China for the production, processing, and refinement of many key critical minerals and materials; the Government of the People’s Republic of China has weaponized its dominance of critical mineral production and has intentionally created overcapacity and sold products at below-market rates in order to gain market share and move up the value chain; it is in the economic and national security interests of the United States to prevent further inroads by strategic competitors into key sectors such as energy infrastructure, critical and rare earth minerals, and other supply chains essential to United States industrial capacity and strategic security; a reliable, resilient, and diversified supply chain for energy and critical minerals is essential to meet the defense, manufacturing, technological, and energy needs of the United States; energy security is a fundamental component of United States national security, economic stability, and foreign policy strategy; the United States must utilize available trade enforcement mechanisms, as well as other appropriate policy tools, to counter coercive economic practices by strategic competitors and complement the growth of a robust domestic critical minerals industry;
United States strategic interests are best served by reducing reliance on adversarial nations for energy and critical minerals, ensuring reliable and affordable electricity for industrial and strategic supply chains, expanding commercial opportunities for United States energy technologies, and securing diversified and reliable access to critical minerals for the United States and allied economies; and Government financing, development, and diplomatic tools should all be deployed in a manner that maximizes the mobilization of private capital, strengthens cooperation with allies and partners, and advances the statutory objectives of United States foreign policy, economic development, and national security—thereby making the United States safer, stronger, and more prosperous.
The purpose of this Act is to— reduce the dependence of the United States and partner countries on strategic competitors for energy, critical minerals, and related technologies; support economic growth and energy-sector modernization in partner countries through responsible and transparent development of domestic energy and mineral resources; advance United States national security and foreign policy objectives through strategic investments, policy coordination, and expanded cooperation with allies and partners; establish a coordinated interagency mechanism to align United States diplomatic, development, trade, and financing tools; strengthen the commercial competitiveness of United States energy and critical mineral companies in global markets; and secure a diversified and resilient supply and processing capacity for critical minerals necessary for United States industry, energy systems, and defense requirements, as well as those of allied and partner countries.