Regulatory and Legal Reform

Washington, D.C. – Following House passage of the bipartisan Developing Overseas Mineral Investments and New Allied Networks for Critical Energies (DOMINANCE) Act, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“China’s dominance of critical mineral supply chains poses a growing threat to America’s manufacturing competitiveness, economic security and technological leadership—at a time when manufacturers need reliable access to these materials more than ever. The bipartisan DOMINANCE Act is an important step toward countering that threat by strengthening partnerships with trusted allies and expanding access to the critical minerals manufacturers need to compete and win.

“Manufacturers have urged policymakers to advance a comprehensive critical minerals strategy, and we thank Reps. Young Kim (R-CA) and Ami Bera (D-CA) for their leadership on this bipartisan legislation. The vulnerabilities in our mineral supply chains are real, and the cost of inaction is rising. We urge the Senate to move quickly to advance the DOMINANCE Act and help secure the critical mineral resources that power innovation, strengthen manufacturing in America and support a higher quality of life for all Americans.”

Background

In March, the NAM released its strategy for a comprehensive, modern critical minerals policy that will secure access to key inputs for the manufacturing industry and the nation—one that generates new pipelines for critical mineral projects at home while securing diversified access to vital manufacturing inputs sourced globally.

The DOMINANCE Act builds on the NAM’s policy recommendations by:

• Facilitating cooperation on joint projects with partners, including through cost-sharing agreements, political risk insurance, pricing mechanisms and procurement;
• Strengthening investment protections in partner governments;
• Establishing a Critical Minerals Mining Fellowship Program to help expand the manufacturing workforce; and
• Coordinating standards to promote a predictable and transparent regulatory environment for critical mineral supply chains.

Ahead of the vote, the NAM urged House members to vote “yes” on the DOMINANCE Act.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.96 trillion to the U.S. economy annually and accounts for nearly 52% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.