【By Observer Net, Qi Qian】

On November 6 local time, the U.S. Geological Survey (USGS), an agency under the U.S. Department of the Interior, updated its list of "critical minerals," adding 10 elements, including copper, silver, and metallurgical coal.

According to reports by the Financial Times and Reuters, this "critical mineral" list is updated every three years. The Trump administration is expanding the list to promote domestic mining and reduce reliance on imports, especially from China. This means that the newly added minerals will be included in so-called "national security investigations," increasing the possibility of the Trump administration imposing tariffs on these 10 minerals.

U.S. Interior Secretary Deb Haaland stated that the expanded list "provides a clear, data-driven roadmap to reduce our dependence on foreign adversaries, expand domestic production, and unleash American innovation."

In addition to copper, silver, and metallurgical coal, the new list also includes uranium, boron, lead, phosphate, potash, rhenium, and silicon.

The report states that the "critical mineral" list is a blueprint for the U.S. government to ensure the supply of materials needed for defense, manufacturing, and clean energy technologies. It will determine which projects are eligible for federal incentives such as tax benefits, inform national inventory and research priorities, and send signals to private investors.

Grace Lin Baskaran, director of the Critical Minerals Security Program at the U.S. think tank "Center for Strategic and International Studies," said: "This list is a market signal of the U.S. government's priorities. Minerals designated as 'critical' are more likely to receive government support."

U.S. "Critical Mineral" List Adds 10 Elements U.S. Geological Survey

After the update of the list, concerns have arisen that the Trump administration may impose taxes on these 10 minerals. According to Section 232 of the Trade Expansion Act, President Trump can initiate a "national security" investigation. According to the law, the U.S. Commerce Secretary should publish the investigation results within 270 days. If it is determined that there is a "national security threat," Trump can impose tariffs on these products.

The Financial Times mentioned that the inclusion of copper and coal was expected. However, the inclusion of silver could have a significant impact on the global silver market. If the Trump administration imposes tariffs on silver, it could cause market turbulence.

U.S. About Two-Thirds of Silver Relies on Imports Photo

Standard Chartered analyst Sukhi Cooper pointed out that it is still unclear whether the U.S. will impose tariffs on silver, but adding silver to the list is the "first step" in this process. However, the U.S. has already included certain silver tariff codes in the exemption list, meaning that some types of silver may be exempt from tariffs.

It is reported that silver is widely used in electronics, solar panels, jewelry, and investment purposes, with about two-thirds of the U.S. silver relying on imports. The report mentions that due to concerns about potential tariffs, silver inventories in New York have increased significantly, reaching a historical high above $50 per ounce last month, leading to temporary silver supply shortages in London.

Potash and phosphate are used as fertilizers, essential for farmers around the world to grow crops.

Cory Rosenbusch, CEO of the U.S. Fertilizer Institute, expressed concern about the latest developments by the U.S. government. He said: "These two minerals are absolutely essential for filling our plates and feeding our communities."

In contrast, U.S. copper and coal producers welcomed this news.

Freddie Mac-McMoRan is the largest copper producer in the United States, with seven mines and controlling one of the country's two smelters. The company previously stated that if copper is classified as a "critical mineral," it could generate over $500 million in annual tax credits.

Rio Tinto, a multinational mineral group, operates a U.S. copper smelter. The company also stated that the U.S. government's move "sent a clear signal that the U.S. is committed to building resilient supply chains for the technologies that will define our future."

However, Reuters mentioned that environmentalists strongly criticized this move. The organization "Earth Justice Action" said the government ignored the economy, violated the law, and opened the door for major corporate projects without sufficient environmental protection. They pointed out: "We should not prioritize corporate profits, but focus on real solutions, such as rapidly expanding the recycling, reuse, and updating of mining laws to meet mineral supply chain needs."

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