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Biden Poised to Use Cold-War Powers to Boost Battery Metals

  • U.S. aims to accelerate domestic production of key materials
  • Electric car, clean energy supply chains dominated by China
Bloomberg business news
Biden Wants to Boost Metal and Mineral Production
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President Joe Biden plans Thursday to invoke Cold War powers to encourage domestic production of critical minerals for electric-vehicle and other types of batteries, according to people familiar with the matter.

The White House is poised to add battery materials to the list of items covered by the 1950 Defense Production Act -- the same authority wielded by Harry Truman to make steel for the Korean War and Donald Trump to spur mask production to tackle the coronavirus pandemic -- the people said. They asked not to be identified because the details are not yet public.