Swarajya's video: Bill In US Senate Proposes Leveraging Ties With Quad Partners To Curb US Dependence On China

A bipartisan group of lawmakers on Thursday introduced a bill in the US Senate to leverage existing trade partnership with America's Quad partners Australia, India, and Japan to reduce dependence of the United States on China for critical mineral supplies. The bill titled, 'Quad Critical Minerals Partnership Act', aims to reduce America’s reliance on China, and protect the long term national security interests of the US and its allies, a media release said. Senator Angus King, a member of the Senate Energy and Natural Resources Committee and Senate Select Committee on Intelligence, Senator James Lankford, John Cornyn, and Mark Warner introduced the legislation that will improve America’s access to critical minerals by working closer with its QUAD partners, and counter China’s current market dominance of this vital resource, it said. In light of the national security threat posed by China’s control of nearly two-thirds of the global supply of rare earth elements and many other critical minerals, the bill would direct the Administration to leverage the Quadrilateral Security Dialogue (United States, Japan, India, and Australia) to promote shared investment and development of this critical resource, the statement said. The partnership would utilize the US Development Finance Corporation to support new development projects, production technologies, and refining facilities in coordination with our Quad partners to produce a more reliable and secure supply chain of critical minerals, and direct the United States Trade Representative to reduce trade barriers for critical minerals, it said. Subscribe to Swarajya on YouTube. Get a Swarajya subscription: https://subscriptions.swarajyamag.com/join-us Website: https://swarajyamag.com/ Twitter: https://twitter.com/SwarajyaMag Facebook: https://www.facebook.com/swarajyamag