中美关键矿产的新焦点：美国关键矿产232调查

Investment Rating - The industry investment rating is "Positive" [5] Core Viewpoints - The report highlights the significant dependence of the U.S. on China for key minerals, with critical metals such as rare earths, magnesium, and germanium having import reliance rates of 72%, 75%, and 54% respectively [2][4] - The investigation aims to assess the U.S. critical mineral reserves, existing supply, alternative sources, and processing capabilities to ensure national security and economic resilience [4] - The report outlines previous measures taken by the Trump administration to protect and reshape the domestic critical mineral industry, including streamlining mining approvals and establishing a critical minerals list [3] Summary by Sections Event Description - On April 15, Trump requested the U.S. Department of Commerce to conduct a national security review of imported critical minerals and their derivatives under Section 232 of the Trade Expansion Act of 1962 [1] Event Commentary - The background of the investigation is the high reliance of the U.S. on China for multiple key minerals, with a comprehensive assessment report covering 50 types of mineral products published in 2022 [2] Investigation Characteristics - The investigation extends beyond minerals to include processing capacity and supply chains, emphasizing the importance of affordable, resilient, and sustainable sources of processed critical minerals for U.S. national security [4] Future Focus Points and Impacts - The report must be completed within 270 days of the request, and if the findings are affirmative, the President has 90 days to decide on implementing tariff policies [4]