President Joe Biden on Thursday will announce he’s using the Defense Production Act to secure American supplies of the critical materials needed to boost a clean-energy economy, focusing on the procurement of the tools needed to build batteries in the U.S. that will go into electric vehicles, senior Biden administration officials told reporters. Reports on Wednesday had said Biden was considering invoking the Defense Production Act this week to boost domestic production of minerals used in batteries needed for EVs.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
