It is not exactly how the capitalist system is supposed to work...

It is not exactly how the capitalist system is supposed to work but desperate times call for desperate measures.

“The Biden administration may intervene in the critical minerals market to support prices after an influx of cheap Chinese imports of metals such as lithium.

A US Department of Energy (DOE) official familiar with the matter told Politico that a price floor will be established and that when market prices of critical minerals fall below that level for minerals produced from certain US projects, the department will pay the difference.

The US is looking to reduce its reliance on China for critical minerals as the nation currently holds a market-controlling position in global supply chains. To support energy security and accelerate the energy transition, the Biden administration has looked to encourage domestic production of the minerals needed for clean energy technologies and electric vehicles.

https://www.mining-technology.com/news/biden-administration-considers-price-support-for-critical-minerals/