U.S. Proposes Critical Minerals Trade Bloc Aimed at Countering China

On Wednesday, Vice President JD Vance unveiled plans to marshal allies into a preferential trade bloc for critical minerals, proposing coordinated price floors as Washington escalates efforts to loosen China's grip on materials crucial to advanced manufacturing.

China has wielded its chokehold on the processing of many minerals as geo-economic leverage, at times curbing exports, suppressing prices and undercutting other countries' ability to diversify sources of the materials used to make semiconductors, electric vehicles and advanced weapons.

"We want to eliminate that problem of people flooding into our markets with cheap critical minerals to undercut our domestic manufacturers," Vance told a gathering of visiting ministers in Washington without mentioning China.

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