Proposal would create rare earth stockpile, block contractors from Chinese supply
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A bipartisan bill to be introduced Friday would force US defense contractors to avoid use of China-sourced rare earth metals by 2026, it would also seek to create a strategic stockpile in the US.
The bill is sponsored by Republican Tom Cotton and Democrat Mark Kelly.

Rare earths are a group of 17 metals used in everything from magnets in EVs to weaponry and electronics - China produces ~80% of global supplies, while the US has one mine, operated by MP Materials (NYSE:MP).
With capacity expansion announcements coming from all corners of the EV supply chain - Tesla Shanghai
(NASDAQ:TSLA), Honda in the US
(NYSE:HMC), Volkswagen Europe
(OTCPK:VWAGY) - accelerating US production of rare earth is likely to be needed regardless of US legislation.
MP Materials is buy-rated by 7 of 10 Wall Street banks.