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(Bloomberg) — The US added uranium, copper and silver to a government list of critical minerals as the Trump administration broadens its scope of what commodities it deems vital to the American economy and national security.
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The updated US Geological Survey list also adds metallurgical coal, potash, rhenium, silicon and lead, according to the list posted to the US government site. The list replaces a 2022 version.
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The list dictates what commodities are included in the Trump administration’s Section 232 probe into processed critical minerals and derivative products announced mid-April, which could lead to tariffs and trade restrictions. President Donald Trump has made it a priority to bolster domestic supply of these minerals, arguing that overreliance on foreign supplies jeopardizes national security, infrastructure development and technological innovation.
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The list also informs direct investments in mining and resource recovery from mine waste, stockpiles, tax incentives for US mineral processing as well as streamlined mining permitting.
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The resource industry had been pushing for certain metals and minerals, like copper and potash, to be included on the list. Much of the potash used in the US is shipped from Canada, which accounts for roughly 80% of imports of the mineral. Copper imports, meanwhile, comprise almost half of total US consumption and come from countries including Chile, Peru and Canada. The bulk of global copper refining is done in China.
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Silver’s inclusion has been a concern for precious metals traders and manufacturers that rely on the material. Any tariffs on silver could wreak havoc on the metals markets because the US relies heavily on imports to meet domestic demand. Silver has wide industrial applications and is used in electronics, solar panels and medical devices.
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—With assistance from Yvonne Yue Li.
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