Question: Use of rare earth metals from which of the following country will prohibited by the Restoring Essential Energy and Security Holdings Onshore for Rare Earths Act recently introduced in US Senate?
a) Brazil
b) China
c) Russia
d) None of these
Answer: (b)
Related Facts:-
- On 14 January 2022; US Senate introduced Restoring Essential Energy and Security Holdings Onshore for Rare Earths Act.
- This bill has been introduced to promote domestic production of rare earth elements and reduce dependence on China for such elements.
- The proposed bill would direct the departments of Defense and Interior to establish a strategic reserve of such elements by 2025.
- According to the bill in the event of a supply disruption, the reserve should meet the needs of the U.S. military, defense industrial base, critical infrastructure and tech sectors for a year.
- The proposed legislation would require DOD contractors to disclose the country of origin of rare earth magnets used in military systems.
- It will prohibit use of rare earth metals from China in sensitive defense platforms by 2026.
- It will also direct the Department of Commerce and the Office of the U.S. Trade Representative to investigate China’s unfair trade practices in the market.
By Rajesh Tripathi