American innovation impacted by mineral import reliance

Forbes.com published an op-ed yesterday by Gary Shapiro, president and CEO of the Consumer Electronics Association, that emphasized the importance of rare earth minerals to technological innovation. Shapiro cited a recent PricewaterhouseCoopers study, which found that “78 percent of CEO respondents in the high-tech industry said that they perceive minerals and metals scarcity as a pressing issue for their company.”

“Congress is listening,” Shapiro wrote, “members of the House and Senate are trying to change outdated mining regulations and allow U.S. companies to unlock the estimated $6.2 trillion worth of key minerals – including rare earth minerals – within U.S. borders.”

Shapiro also discussed the United States’ recent WTO case against China regarding China’s rare earth export restrictions, noting that the United States’ import reliance for rare earth minerals leads to supply chain disruptions that negatively impact American innovation and manufacturing.

Read more here.