Los Angeles cargo port, California (USA). (Photo: THX/TTXVN)
On April 15, US President Donald Trump signed an executive order requesting an investigation into the possibility of imposing tariffs on all imported critical minerals.
Under the order, US Commerce Secretary Howard Lutnick will initiate a national security investigation under Section 232 of the Trade Expansion Act of 1962 - the law that Mr. Trump used during his first term as President to impose a global 25% tariff on aluminum and steel.
In February this year, Mr. Trump also cited this law to open an investigation into the possibility of imposing tariffs on copper imported into the US.
The new investigation will take a comprehensive look at the relevant market dynamics for critical minerals such as cobalt, nickel, 17 rare earth elements, uranium and other elements that US officials have determined are essential to national security.
The order states: "America's dependence on imports and the vulnerability of its supply chains pose risks to our national security, defense capabilities, price stability, prosperity, and economic resilience."
Currently, the US mines and processes only very small amounts of lithium, has one nickel mine but no nickel smelter, and no cobalt mines or processing facilities.
Despite having many copper mines, the US has only two copper smelters and still has to depend on foreign supplies for its demand for this metal./.
Source: https://www.vietnamplus.vn/ong-trump-ra-lenh-dieu-tra-thue-quan-toan-bo-khoang-san-quan-trong-nhap-khau-post1032021.vnp
Comment (0)