The fight between the U.S. and China over critical minerals continues as two Republican U.S. senators — Utah Sen. John Curtis and Montana Sen. Steve Daines — introduced the Critical Mineral and Extraction Tax Parity Act last week. “Critical minerals” show up everywhere in modern society — from lithium batteries in smartphones to phosphate in fertilizer critical for food production. There is no corner of the economy that doesn’t depend on at least a subset from the list of critical minerals. However, China controls roughly 40%-90% of the world’s processing capacity for these minerals, the Center for Strategic and International…