US lawmakers propose US$2.5 billion agency to boost production of rare earths

A bipartisan group of lawmakers has proposed creating a new agency with US$2.5 billion to spur production of rare earths and the other critical minerals, while the Trump administration has already taken aggressive actions to break China’s grip on the market for these materials that are crucial to hi-tech products, including mobile phones, electric vehicles, jet fighters and missiles. It is too early to tell how the bill, if passed, could align with the White House’s policy but whatever the...