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On rare earth supply, Trump for once seeks allies
The coalition includes over 50 countries and features a $10 billion loan-backed 'Project Vault' to reduce reliance on China and stabilize critical mineral markets.
- On Wednesday, the U.S. State Department will lead a one-day ministerial meeting with more than 50 countries to discuss critical minerals, following recent efforts to stockpile inputs. Burgum said the bloc could regulate minimum prices for key minerals.
- China's market control has prompted U.S. officials to cite its dominance in mining 60 percent and processing 90 percent of rare earths vital for smartphones and electric cars, threatening the global economy.
- Allied partners including Japan, Australia, and the EU have participated, with Interior Secretary Doug Burgum saying 11 countries will join Wednesday and 20 are interested in a "global coalition."
- Participants explored policy options such as regulating minimum prices for key minerals and considered joint funding approaches, including a $500 million loan, with officials saying the bloc might diverge from U.S. free-market tradition.
- Seen broadly, the initiative signals a strategic U.S. posture on minerals, building on the 2022 Minerals Security Partnership and aiming for U.S. dominance in supply chains.
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Coverage Details
Total News Sources22
Leaning Left5Leaning Right4Center7Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 31%
C 44%
R 25%
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