STRATEGIC Minerals Act

This bill lets the President negotiate special trade deals with other countries to help the United States get more access to critical minerals and rare earth elements, which are materials like aluminum, cobalt, and certain elements used in magnets. The President could change tariffs or keep certain tax-free treatments in place as part of these deals, but agreements with countries considered foreign concerns, like China and Russia, are not allowed. Congress would need to be notified and have a chance to review these trade agreements. The bill also makes it so that businesses in countries that sign these trade deals could qualify for financial support under U.S. defense production laws to help produce materials important to national security.

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