economy
February 4, 2026
US seeks trading bloc to counter China grip on critical minerals, Vance says
The Trump administration is pushing to form a trading bloc with allied countries to set price floors and coordinate financing on critical minerals to counter China‘s grip on the market, Vice President JD Vance said.
TL;DR
- Trump administration is pushing to form a trading bloc with allied countries.
- The goal is to set price floors and coordinate financing on critical minerals.
- This initiative aims to counter China's dominance in the critical mineral market.
- China controls approximately 90% of the global supply of critical minerals and rare earth elements.
- The proposed system includes creating a trading bloc, setting minimum prices, and using adjustable tariffs.
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