Trump Grants Lutnick Power to Restrict Critical Mineral Exports, Citing Defense Needs
Updated
Updated · Yahoo Finance · Aug 3
Trump Grants Lutnick Power to Restrict Critical Mineral Exports, Citing Defense Needs
3 articles · Updated · Yahoo Finance · Aug 3
Summary
A July 2026 order gives Commerce Secretary Howard Lutnick authority under the Defense Production Act to impose export controls on critical minerals and materials, though no specific bans, quotas or licensing rules have been issued yet.
The order highlights materials tied to permanent magnets, lithium-ion batteries and industrial waste, with targeted countries likely to be named later as Commerce writes the actual restrictions.
The move could squeeze U.S. supply chains because the country has limited refining, smelting and processing capacity for the raw materials it may curb from leaving the country.
MP Materials stands out as a likely beneficiary through its Mountain Pass mine in California, which produces concentrate used to make NdPr oxide, a key input for NdFeB magnets.
Govini estimates about 78% of U.S. military weapon systems depend on NdPr-related materials, underscoring why the administration framed the export authority as a national defense measure.