President Biden to use Defense Production Act to boost production of critical minerals
The wartime-era law allows the president to order manufacturers to prioritize certain materials and goods in the name of national security.
The White House says President Joe Biden will use the Defense Production Act to boost production of critical minerals in the United States.
The wartime-era law allows the president to order manufacturers to prioritize certain materials and goods in the name of national security.
It’s just the latest step in Biden’s effort to secure domestic supplies of a vital component of electric-vehicle batteries, as well as other high-tech products.
Canada has high hopes of developing its own reserves of minerals like cobalt, chromium and nickel as climate change drives soaring demand for EVs, especially south of the border.
But publicly at least, Biden is focused on prioritizing domestic sources for mission-critical commodities in the name of U.S. jobs and economic growth.
Last week, automaker Stellantis and South Korean tech giant LG announced plans for a $5-billion battery plant in Windsor, Ont., billed as the largest single investment ever in Canada’s auto sector.
