The writer is the senior fellow for geoeconomics and defence at the Council on Foreign Relations and served as the first US assistant secretary of defence for industrial base policy from 2023-25
The Pentagon’s recent investment in MP Materials, in which it committed to purchase 100 per cent of the mining company’s rare earth magnets for 10 years, is a creative game-changing potential use of America’s Defense Production Act (DPA). It offers the kind of clear demand signal that the private sector requires from the federal government.
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