The us senator Marco Rubio (R-FL) presented this Thursday the XNUMXst Century Manufacturing Law by RE-Coop

By Miami Diario Newsroom

The bill would establish a Cooperative of Rare Earth Refinery to be financed, operated and managed by the private sector.

The idea is for it to take responsibility for coordinating and establishing a national rare earth value chain that is integrated and capable of serving US national security interests and restoring US competitiveness to critical advanced manufacturing industries. .

“As the Chinese government and the Communist Party aggressively subsidize and invest in their own economy at our expense, it becomes urgent for us to change our policies to restore the competitiveness of critical American industries in the XNUMXst century," Rubio said.

The senator added that "Beijing's mercantilist tactics have contributed to the failure of the market for rare earth resource development, both in the United States and in the rest of the world."

The continued dependence of the United States on China for the extraction and processing of rare earths and the manufacturing of those metals into useful products is unsustainable, according to Rubio's assessment.

He explained that this situation "threatens our national security, limits our economic productivity, and deprives working-class Americans of future opportunities for decent work."

For this reason, the "RE-Coop XNUMXst Century Manufacturing Act" is a crucial ingredient for the resurgence of America's advanced manufacturing sector, because it will allow domestic industries to regain competitiveness and break China's control over the supply chain. global value of rare earths”, Rubio pointed out.

He added that “we are immersed in a geopolitical competition that will determine the future prosperity of our nation. The United States government must act for the well-being of the American people."

With information from press release

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