Made in the USA: Defense companies tense as Congress pressures them to buy domestic
May 17, 2024, Source) — The 2025 defense authorization act draft is raising concerns among U.S. defense companies due to its emphasis on domestic sourcing of critical materials, previously sourced notably from China. Lawmakers are pressing for the utilization of domestic resources, particularly for materials essential in military technologies like lithium-ion batteries and rare-earth elements. This shift is prompted by strategic considerations and the recent surge in imports from China, which increased from $2 billion in 2020 to nearly $12 billion in lithium-ion batteries alone by 2023. Despite these pressures, defense industries face challenges due to the lack of additional funding for domestic sourcing, leading to potential increased costs for taxpayers. The draft bill encourages the Pentagon to develop and conserve domestic sources more aggressively and strategize for national emergencies. However, industry leaders, including Eric Fanning of the Aerospace Industries Association, caution that such significant changes require time and financial investment, suggesting a need for supportive public-private partnerships. QUOTE
The US and allied countries must pick up their game for domestic supply of critical metals and processing to be ready for the upheaval in the technology based industries IMO
https://investornews.com/critical-minerals-rare-earths/technology-metals-report-05-24-2024-chinas-plan-for-record-cobalt-purchases-u-s-defense-companies-to-source-critical-minerals-domestically/
