Trump launches investigation into need for tariffs on key minerals

Mars Finance News, on April 16, Trump initiated an investigation into the necessity of imposing tariffs on critical mineral products, which is the latest action in the continuously expanding trade war targeting key global economic sectors. According to a White House briefing, the order signed by Trump on Tuesday requires the Secretary of Commerce to launch a Section 232 investigation under the 1962 Trade Expansion Act to "assess the impact of importing these materials on U.S. security and resilience". If the Secretary of Commerce finds that imported critical mineral products threaten "national security, the President will decide to impose tariffs", which will replace the so-called reciprocal tariffs Trump announced earlier this month against U.S. trading partners. The order covers critical minerals including rare earth elements, which are considered the "cornerstone of the U.S. defense industrial base" and crucial for manufacturing jet engines, missile guidance systems, advanced computers, and radar, optical, and communication equipment. The order also involves uranium and processed critical minerals and their derivatives. According to legal provisions, the Secretary of Commerce should submit investigation results within 270 days. The White House stated that although the U.S. possesses some important minerals, it currently imports large quantities, creating economic and security risks. The U.S. government noted that the U.S. depends on imports for at least 15 critical minerals. Critical minerals are used in defense, automotive, space travel, batteries, and other equipment, but most of the U.S. supply depends on other countries.