Joining the Convention would put America’s resource rights on firm legal footing, protecting American business interests and helping those businesses stay competitive internationally. The Convention provides legal certainty and predictability that businesses can rely on, empowering them to pursue ventures that they would not be able to undertake otherwise.
For example, Chinese, Indian, and Russian companies are exploring deep seabeds for rare earth elements and valuable metals, but the United States cannot sponsor our companies to do the same. Joining the Convention will level the playing field for American companies so they have the same rights and opportunities as their competitors.
Past administrations – both Republican and Democratic – the United States military, and industry and environmental groups have all together signaled strong support for joining the Convention. It is a key piece of unfinished business. And I'm confident that the United States will soon do what over 160 other countries have already done and join the Law of the Sea Convention. Thanks to all of you for helping to make this a reality.