Rare Earths Supply-Chain Technology and Resources Transformation Act of 2010 or the RESTART Act - Directs the Secretaries of Commerce, of Defense, of Energy, of the Interior, and of State to: (1) appoint an Executive Agent, at the Assistant Secretary level, to serve as a representative on an interagency working group to reestablish a competitive domestic rare earth supply chain; and (2) assess and report to Congress on the chain, determining which rare earth elements are critical to national and economic security. Directs the United States Trade Representative (USTR) and the Office of Science and Technology Policy also to appoint representation to such working group.
Requires the Secretary of Defense to commence procurement of critical rare earth materials and place them in a national stockpile, and the Defense Logistics Agency, Defense National Stockpile Center to serve as Administrator of the stockpile.
Authorizes the Administrator, if necessary to meet U.S. national security and economic needs, to purchase rare earth materials from the People's Republic of China.
Instructs the USTR to: (1) initiate and report to Congress on a comprehensive review of international trade practices in the rare earth materials market; or (2) initiate an action before the World Trade Organization (WTO) as a result of the review.
Directs the Secretaries of Commerce, of the Interior, and of State to report to the domestic rare earth industry about mechanisms for obtaining government loan guarantees to reestablish a domestic rare earth supply chain. Directs the Secretaries of Defense and of Energy to issue guidance for the industry related to obtaining such loan guarantees.
Expresses the sense of Congress regarding a prioritization of Defense Production Act projects with respect to the domestic rare earth supply chain.