China currently dominates mineral supply chains, noted Sarah Stewart, executive director of Silverado Policy Accelerator.

While participating in consultations on the USMCA in Washington in early December, Stewart argued that the country or region that controls the supply of these inputs will have an economic and military advantage. 

Mineral supply chains

Silverado Policy Accelerator is a group of geopolitical experts focused on improving U.S. competitiveness.

“China currently dominates mineral supply chains. And while the United States and its allies lead in the production of advanced semiconductors, China also dominates the production and export of critical semiconductors globally,” Stewart said. 

According to Stewart, supply chains require clear commitments. The goal is to ensure resilience and security for the United States and North America. In this context, the USMCA remains a benchmark. However, some provisions can be strengthened and others added. He therefore called on the United States to rise to the occasion.

The message is straightforward. Key decisions require concerted action. Unilateral measures are not enough. Achieving this is strategic because the USMCA can become a model for other trade agreements.

Stewart identified areas with transformative potential for regional trade and economic security. The first is the use of data. More data is needed. But above all, a tailored strategy is needed. It is not about accumulating information. It is about gaining transparency. This broadens the options for addressing trade distortions and opening up new opportunities.

Next, he proposed a joint monitoring system. This would serve to detect excess capacity and import spikes before they harm businesses and workers. Coordination would allow for a timely response. The metrics would be clear: export volume, value, unit price, production, and capacity.

Customs fraud

Secondly, the focus shifts to customs. Stewart proposed greater transparency. This involves publishing and sharing customs data. It includes the origin, value, and quantity of imports. This strengthens surveillance against transshipment, circumvention of trade measures, and customs fraud. The suppression of data, he warned, should be exceptional.

Finally, he addressed foreign investment. The parties, he said, must provide information with maximum transparency. They must also evaluate the ownership structures of foreign companies in their territories. This data allows risks to be anticipated. In addition, it facilitates a joint response to unfair imports and predatory actors, including through common tariffs or other measures linked to the economic and national security of the region.