The United States revealed new measures to organize allies into a preferential trade bloc for critical minerals on Wednesday, introducing coordinated price floors as part of efforts to reduce China’s dominance in rare earth mineral manufacturing.
The proposals were discussed at a ‘Critical Minerals Ministerial’ in Washington this week, attended by representatives from 54 countries, the European Union, and senior officials from the Trump administration.
Following the meeting, Washington declared the signing of bilateral critical minerals agreements with 11 countries, adding to 10 similar accords reached over the past five months. Negotiations were also finalized with an additional 17 nations.
Vice President JD Vance stated on Wednesday that the past year’s trade tensions revealed the global reliance on critical minerals largely dominated by China.
“We want members to form a trading bloc among allies and partners, one that guarantees American access to American industrial might while also expanding production across the entire zone,” Vance said.
The Republican administration is taking decisive steps to secure supplies of critical minerals essential for electric vehicles, missiles, and other high-tech products, following China’s restrictions in response to Trump’s broad tariffs last year.
Although the two countries reached a temporary truce to ease the high import taxes and relaxed some rare earth limitations, China’s curbs remain stricter than they were prior to Trump’s presidency.
Secretary of State Marco Rubio, who hosted the Ministerial, also declared the formation of the ‘Forum on Resource Geostrategic Engagement (FORGE),’ a collaborative initiative to coordinate critical mineral policies and projects. He further cautioned about the risks posed by the heavy concentration of these resources in China.
In recent years, Beijing has leveraged its control over the mining and refining of key critical minerals as a geopolitical instrument, selectively limiting exports. Rubio also condemned unfair practices, including state subsidies that have undermined competitors.
These developments form part of the Trump Administration’s wider push to reinforce critical mineral supply chains. On Monday, President Donald Trump announced Project Vault, a $12 billion reserve supported by $10 billion from the U.S. Export-Import Bank and $2 billion in private investment, designed to stabilize prices and assist manufacturers. The stockpile will include critical minerals such as rare earths, lithium, and copper.
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