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Trump to waive Defense Production Act to boost critical minerals

U.S. president

Donald Trump will cut some legal requirements including the approval of larger projects by Congress to boost domestic production.

The government website shows that the document will be published in the Federal Register on Tuesday.

The Defense Production Act is a U.S. statute that gives the president wide emergency powers in order to control domestic industries during times of national security.

Trump invoked a law from the Korean War in March to boost domestic production of minerals that are critical for Washington's economic rival China.

The law limits the president's power by requiring him to get congressional approval on projects exceeding $50 million dollars and limiting project completion dates to a one-year timeframe.

According to a document seen, Trump will be expected to use these powers in an emergency.

President Joe Biden used similar waivers during the COVID Pandemic to accelerate production of vaccines, medical equipment and other supplies.

The White House didn't immediately respond to our request for a comment. Reporting by Ernest Scheyder, Jarrett Renshaw and Trevor Hunnicutt; Editing and Chizu Nomiyama.

(source: Reuters)