President Donald Trump recently signed an executive order directing a national security investigation into critical mineral imports, laying the groundwork for potential new tariffs. This move marks another front in the ongoing global trade war after previous actions targeting steel, aluminum, automobiles, and semiconductors. The investigation reflects Trump’s strategy of using tariffs to reshape global trade dynamics.
According to the White House, the investigation will be conducted under Section 232 of the Trade Expansion Act of 1962. Led by the Secretary of Commerce, it will assess the impact of importing 50 strategic minerals, including rare earths, uranium, lithium, and nickel, on national security. If the investigation finds these imports pose a threat, the President can replace existing reciprocal tariffs with new ones.
The list of critical minerals, updated in February 2022 by the US Geological Survey (USGS), includes aluminum, manganese, lithium, nickel, rare earth elements (e.g., neodymium, dysprosium), cobalt, platinum, titanium, zinc, and others. This 50-item list adds 15 minerals compared to the 2018 list. These materials are vital to national security, renewable energy development, infrastructure, and the economy, but supply chains face risks of disruption.
At VRIC 2025, we were excited to host Nick Hodge for an exclusive METALS 100 interview. Nick shared his valuable insights on key topics such as the outlook for the EV market, expected trends in lithium prices in 2025, and his perspective on the possibility of an economic recession. He also revealed his top pick for the most promising metal in 2025 and provided thoughtful advice for resource investors navigating today’s complex geopolitical and economic landscape.
The White House emphasized that the US depends on China for 70% of its rare earth imports, with at least 15 critical minerals facing significant supply risks. This inquiry coincides with China’s new export controls on rare earth materials—such as samarium, gadolinium, and terbium—essential for making displays, permanent magnets, and advanced medical devices. These restrictions are widely seen as China’s countermeasure against US sanctions on its technology sector.
Last month, the Trump administration invoked emergency authorities to stimulate domestic production of critical minerals, using financial support and loans to improve US processing capacity. While the US has some mineral reserves, excessive reliance on imports poses economic and national security vulnerabilities, the White House stated.
The investigation must be completed within 270 days, while ongoing trade tensions between the US and China continue to escalate. By restricting exports of strategic raw materials, Beijing could undermine industries in the US, Europe, and Japan, which rely on these inputs for advanced technology.
