"The United States desperately needs to hasten the development of supply chains for critical minerals that don’t involve China and Chinese companies for both commercial and national security interests. Unfortunately, current policies, including regulations from the Inflation Reduction Act (IRA), are doing exactly the opposite. They are hurting demand for electric vehicles, the very products that will incentivize the development of these supply chains. Instead, Washington needs to unleash the power of the US market by removing barriers to accessing capital, fast-tracking manufacturing, providing high-level diplomatic support, and promoting domestic demand."