Trump administration to unveil grand plan for countering China’s control on critical minerals

The Trump administration is launching a major initiative to rebuild critical mineral supply chains, vital for various industries, to counter China's dominance. This plan involves purchase agreements with international partners and the creation of a $12 billion U.S. strategic reserve. Vice President JD Vance will present the plan at a meeting with officials from numerous countries, focusing on supply chain logistics. Secretary of State Marco Rubio met with foreign ministers to discuss mining and processing critical minerals. The U.S. will sign deals on supply chain logistics, though details remain undisclosed. Project Vault, a stockpile of critical minerals, is backed by a $10 billion loan and private capital. China's control over rare earth elements exposed vulnerabilities during the trade war. The U.S. seeks to establish a buyers' club with key mineral producers and consumers. The government is investing directly in American critical mineral producers demanding returns. The Export-Import Bank approved a $10 billion loan for the strategic reserve, fostering public-private partnerships. Lawmakers from both parties support securing a domestic supply of critical minerals.