House Select Committee Chair Highlights Critical Minerals Dependence
The chairman of the House Select Committee on China welcomed a new report from Horizon Advisory that said the bipartisan infrastructure law and the Inflation Reduction Act have spurred investments in advanced battery production and critical minerals recycling, which "carry great promise but they will be for naught if the U.S. does not recognize and counter China's state-backed market dominance and manipulations with additional investments, stronger protective measures, and stringent enforcement mechanisms."
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The report noted that China does two-thirds of the world's EV battery assembly, two-thirds of critical minerals processing and refining, and one-third of the world's critical mineral extraction.
The report also complained that Chinese champion companies are trying to locate in U.S. to gain access to incentives. The opening of a Gotion factory in Michigan has been attacked by Committee Chair Rep. John Moolenaar, R-Mich.
He said: "This report outlines what we have long known to be true: the world is far too dependent on Chinese Communist Party-controlled supply chains for critical minerals. The CCP will use this mineral dominance to control the world economy, while manipulating countries, businesses, and people to its will. I am grateful for the good work of the Battery Materials & Technology Coalition in exposing America’s dependencies in this report and encourage my fellow lawmakers to take its message to heart. We need to end our reliance on CCP-controlled critical minerals.”