• The US is hosting over 50 nations to discuss a critical minerals trade bloc to reduce dependency on China.
• Vice President JD Vance announced plans to establish price floors for critical minerals.
• Chinese control over critical minerals poses risks to the global supply chain.
• Project Vault, funded by $12 billion, aims to bolster US mineral stockpiles.
• The discussion comes amid rising tensions in US-China trade relations.

The United States is currently hosting a Critical Minerals Ministerial in Washington, DC, where representatives from over 50 countries are gathering to discuss forming a "preferential trade zone" aimed at countering China's overwhelming control of critical mineral supply chains. The initiative highlights the need to diversify sources of essential materials for advanced manufacturing, such as semiconductors and electric vehicles, which are vital for national security and economic stability, according to Al Jazeera and Reuters.

During the meeting, Vice President JD Vance emphasized the importance of establishing reference prices for critical minerals at every stage of production, which would function as a pricing floor supported through adjustable tariffs. This approach aims to mitigate the impact of cheaper imports flooding the US market, which have historically undermined domestic manufacturing capabilities. Vance articulated the goal of creating a more competitive global market while addressing concerns about dependency on Chinese supplies, as reported by Anadolu Agency and Channel News Asia.

The meeting's agenda also includes discussions about Project Vault, a strategic initiative launched by President Trump, which includes $10 billion in funding from the US Export-Import Bank and $2 billion from private sources to create a national stockpile of critical minerals. This stockpile aims to enhance the US's resilience against market disruptions that stem from China's export controls, particularly concerning rare earth elements, according to Al Jazeera and Reuters.

Attending nations include key global players like India, Japan, Australia, and South Korea, many of whom have varying roles in the mining or refining of critical minerals. Secretary of State Marco Rubio noted that nations lacking their own mineral resources could participate by engaging in processing activities, thus ensuring collective contributions to a more resilient global supply chain. This collaborative framework is seen as essential for addressing geopolitical vulnerabilities posed by China's dominance in this sector, according to Anadolu Agency and Channel News Asia.

In summary, the US is taking significant steps to reshape policies around critical minerals, with intentions to establish a strong network among allied nations to reduce reliance on Chinese exports, which have been described as a tool of geopolitical leverage. The initiative comes at a time of increased trade tensions and aims to secure a stable supply chain for essential materials, highlighting the critical intersection of economics and security in the modern global landscape, according to Reuters, Al Jazeera, Anadolu Agency, and Channel News Asia.