Do You Support Sen. Rubio’s Bill To Impose High Tariffs on China?

Do You Support Sen. Rubio’s Bill To Impose High Tariffs on China?

Here’s The Scoop

In a bold move to confront the growing threat posed by Communist China, Senator Marco Rubio (R-FL) introduced the Critical Mineral Supply Chain Realignment Act of 2024, aimed at safeguarding America’s critical mineral supply chains from Chinese control.

This assertive legislation imposes steep tariffs on essential goods such as electromagnets, permanent magnets, batteries, solar panels, and solar wafers, effectively hitting China where it hurts:

• A 150% tariff on goods manufactured by Chinese-controlled entities, regardless of the country of manufacture.

• A progressively increasing tariff on goods manufactured in China: starting at 150% in the first year, 300% in the second year, 450% in the third year, and a staggering 800% each year thereafter.

• A 25% tariff on goods from countries that are neither allies of the U.S. nor part of select free trade partnerships or the Mineral Security Partnership.

Senator Rubio emphasized the critical need for this legislation, stating, “The U.S. and its partners must end Communist China’s critical mineral industrial monopoly. My bill will provide more certainty to industry based in the U.S. and partner and ally countries so they may be able to develop a critical mineral industrial ecosystem China’s market manipulations cannot undercut.”

This move follows Rubio’s ongoing efforts to prevent American reliance on the People’s Republic of China (PRC) for minerals crucial to our technology sectors. Last November, Rubio and Senator Mark R. Warner (D-VA) led a bipartisan group of senators in urging the White House to act decisively. Their letter highlighted the urgent need to secure supply chains as America lags behind adversaries like China in this critical area. Notably, China controls nearly 100% of the end-to-end supply chain for many of these essential minerals, a concerning fact that underscores the urgency of Rubio’s legislation.

Moreover, Rubio and Warner have pushed the Export-Import Bank of the United States (EXIM) to prioritize securing these critical mineral supply chains.

They stressed, “The stakes of our economic struggle with the PRC demand that we reduce our dependence on them in critical technology sectors and for critical goods, especially those with defense and energy applications.”

This decisive action by Senator Rubio is a clear message: America will no longer stand by as China manipulates global markets and threatens our economic security. It’s time to reclaim control of our critical mineral supply chains and ensure a prosperous and secure future for our nation.

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