Trump plans to stockpile deep-sea metals to counter China, FT reports

(Reuters) - The Trump medication is drafting an enforcement bid to alteration the stockpiling of deep-sea metals to antagonistic China's dominance successful artillery minerals and uncommon world proviso chains, the Financial Times reported connected Saturday, citing radical acquainted with the matter.

Under the plans, the stockpile would "create ample quantities acceptable and disposable connected U.S. territory to beryllium utilized successful the future", successful lawsuit of a struggle with China that mightiness constrain imports of metals and uncommon earths, the study added.

Last week, China placed immoderate uncommon world elements nether export restrictions arsenic portion of its effect to President Donald Trump's tariff package, perchance cutting the U.S. disconnected from minerals captious to everything from smartphones to electrical car batteries.

The stockpile is being considered arsenic portion of a broader propulsion to fast-track deep-sea mining applications nether U.S. law, and to make onshore processing capacity, the study added.

China produces astir 90% of the world's refined uncommon earths, a radical of 17 elements utilized crossed the defense, electrical vehicle, cleanable vigor and electronics industries. The U.S. imports astir of its uncommon earths, and astir travel from China.

The White House and China's overseas ministry did not instantly respond to Reuters requests for comments.

(Reporting by Rajveer Singh Pardesi successful Bengaluru; Editing by Mark Potter)