Critical minerals supply chain risk isn’t primarily a sourcing problem, supply chain expert Kenneth Johnson argues — it’s a governance problem. As resource-rich countries increasingly seek to expand their share of value through export restrictions and local processing requirements, US companies face a compliance environment that is growing more complex and less predictable, often faster than their risk frameworks can absorb.
The US has entered a new phase of industrial policy, one defined not by market reliance but by strategic intervention.
In recent years, Washington has committed substantial public resources to rebuilding domestic capacity in sectors deemed critical to economic security and national defense. Semiconductor manufacturing, advanced batteries and defense technologies have all been prioritized through targeted legislation and institutional mandates.
The scale of this shift is significant. The CHIPS and Science Act allocates approximately $53 billion to strengthen domestic semiconductor manufacturing and reduce reliance on external supply chains. At the same time, institutions like the US International Development Finance Corp. have expanded their role in financing critical minerals projects abroad, while the US defense sector continues to maintain strategic reserves through the…
