Feb 4, 2026, 4:46 p.mFeb 4, 2026, 4:46 p.m
JD Vance speaks at the “Critical Minerals Ministerial” on Wednesday.Image: keystone
Despite international tensions, the USA wants to build a trading alliance with its allies for rare earths and other important minerals. The US government wants to reduce its dependence on China.
Tariffs and price floors are intended to prevent Beijing from flooding the markets with raw materials at dumping prices and thus undercutting competitors, said US Vice President JD Vance. The “trade bloc” is intended to strengthen the US economy and at the same time expand production throughout the alliance area.
The USA had invited people to a ministerial meeting on the topic this Wednesday, with participants from more than 50 countries announced earlier.
Reduce dependence on Beijing
With the cooperation agreements, Washington is also trying to reduce its own dependence on Beijing for rare earths and other minerals of critical importance. The background is that the refining of metals known as rare earths is largely controlled by China.
They are essential, among other things, for the electronics industry and the production of electric cars and magnets. Lithium and cobalt are also considered to be critical raw materials.
On Monday, Trump announced a reserve of the valuable minerals worth twelve billion dollars. The reserve should ensure that there are no bottlenecks for American companies, said Trump at the White House.
US companies should be able to purchase critical minerals from the reserve at a pre-agreed price. This would protect them from shortages or price fluctuations on the global market. They should replenish the stocks later. (sda/awp/dpa)