On January 14, 2026, the President issued a proclamation under Section 232 regarding processed critical minerals and their derivative products (PCMDPs). The proclamation does not impose tariffs at this time but leaves open the possibility of future tariffs or other trade measures if satisfactory agreements with trading partners are not reached in a timely manner.
The proclamation highlights the United States’ heavy reliance on imports for critical minerals. In 2024, the U.S. was entirely dependent on imports for 12 critical minerals and more than 50 percent import-reliant for 29 additional minerals. Even for minerals such as cobalt, nickel, and rare earth elements, where the U.S. has domestic mining capacity, limited domestic processing means that materials often must be exported for refining before being reimported for use.
These minerals are vital to national security, defense, critical infrastructure, and commercial industries. The proclamation notes that reliance on foreign sources, limited domestic production, and market volatility pose vulnerabilities to defense readiness, industrial resilience, and supply chain stability.
The Secretary of Commerce and the U.S. Trade Representative have been directed to negotiate agreements with trading partners to secure reliable supplies of critical minerals, potentially including price floors or other trade-restricting measures. The President will receive an update on these negotiations within 180 days. Depending on the outcomes, alternative remedies, including minimum import prices or other measures, may be considered.
The proclamation and further details can be found in the links below:
Proclamation: Adjusting Imports of Processed Critical Minerals and Their Derivative Products