Congressman John Moolenaar Chairman of the Select Committee on the CCP | Official Website
The Trump Administration has announced Project Vault, a new initiative to establish a critical minerals stockpile with the involvement of private industry. The project aims to ensure a steady supply of essential minerals needed by U.S. manufacturers for products such as automobiles, semiconductors, and electronics.
John Moolenaar, Chairman of the Select Committee on China, commented on the announcement: “President Trump and his administration are leading on critical minerals and building a stockpile that will counter China and secure the future of American manufacturing. China’s attempt to cut off our supplies of critical minerals was a declaration of economic war against the United States and a threat to supply chains around the world. Project Vault will protect our economy from China’s mineral manipulation, create jobs, and send a signal to American miners and our allies that there is a demand for their product.”
Last fall, the House Select Committee on the Chinese Communist Party released a bipartisan investigation into China's role in the global critical minerals market. The report found that the People's Republic of China (PRC) government subsidizes its state mining companies with large sums—including zero-interest loans—to support their acquisition of mining assets worldwide. It also described how Beijing uses legal frameworks for mineral price reporting to influence prices in line with its national security interests.
According to findings from this investigation, China has reduced prices for key minerals like lithium by supporting its firms' aggressive acquisition strategies when prices were low. This approach has allowed China to strengthen control over global supply chains.
Moolenaar said at the time: "From cell phones to fighter jets, every American is dependent on minerals that China manipulates for its own selfish interests. As we saw last month with its rule on rare earths, China has a loaded gun that is pointed at our economy, and we must act quickly. China’s predatory practices have caused American job losses, driven American miners out of business, and jeopardized national security. This new investigation reveals China’s playbook and makes crucial recommendations for how we can secure our future for generations to come."
The House Select Committee on the Chinese Communist Party analyzes economic and security challenges related to competition with Beijing while developing policy ideas through sessions and official documents (official website). The committee operates as a bipartisan body within the U.S. House of Representatives (official website) and proposes legislation aimed at enhancing U.S. competitiveness against challenges posed by China's government (official website).
