In a 50-page report released on Wednesday, November 12, the US House of Representatives Select Committee accused China of manipulating key global markets by dominating mineral processing, stabilizing prices, and using this influence to boost its economy.
The report emphasizes that for decades, Beijing has controlled the supply chain of strategic metals such as lithium and rare earth elements, making it virtually impossible for the United States and its allies to determine the true price of these materials.
In its recommendations, the committee called for price controls, stricter government oversight of reporting entities, and the creation of a strategic mineral reserve on U.S. soil.
The report also warned of the need for multilateral coordination, simultaneous implementation of diverse policies, and regional and international cooperation to counter China’s dominance in this vital market.
