Breaking news: The US sets up a task force for strategic metals
In light of constant, increasingly rapid, reciprocal sanctions with China, the US is now pulling the emergency brake: The Strategic and Critical Materials Board of Directors, a task force for raw material supply, is to be established by the end of the year. Why are there no such plans in Europe?
Strategic supply chains and defence-critical stockpiles
The remit of the body announced yesterday will be to advise the Under Secretary of Defense for Acquisition and Sustainment. The primary responsibility of this civilian Pentagon official is the procurement and sustainable management of military equipment, as well as ensuring strategic supply chains. The board is intended to support him through its advice in ensuring the latter and in building up defence-relevant stockpiles. Its members include representatives from the Departments of Defense, Energy, State, Commerce and the Interior, as well as the congressional armed services committees.
Security of supply becomes a matter of state
“America first!” – Trump’s campaign slogan is proving true in a sense, as the US is positioning itself as a pioneer by making the supply of critical raw materials a matter of state in this way. In Europe, there is the Critical Raw Materials Act, which sets out general guidelines for raw material supply, and alliances such as the Minerals Security Partnership, which aim to secure raw material supply chains through cooperation among Western nations. However, these projects are not comparable to the efficiency promised by the Strategic and Critical Materials Board of Directors, which is directly geared towards security of supply and defence capability. Its task is to help determine which metals are available, which are needed, and how the US can obtain the latter.
Germany must not fall behind
Anyone who says that this measure only makes sense against the backdrop of the ongoing trade war between the US and China is, in our view, mistaken. Certainly, two great powers are battling for technological supremacy here. But why should Europe stand by idly? Germany in particular is falling further and further behind in forward-looking fields such as AI and e-mobility. Under no circumstances must we allow ourselves to fall behind. So what needs to be done?
A European raw materials task force—also in our book!
By coincidence or not, our book “The Cocaine of Industry” argues exactly this: Europe needs a raw materials task force. Secure your copy and read the story of our mining project—and how it is even possible to benefit from the current geopolitical situation.