Overview
- Interior Secretary Doug Burgum said about 30 countries want to join the club to reduce reliance on China, with Japan, Australia and South Korea already participating.
- Burgum said the U.S. expects to announce as many as 11 additional agreements this week and cited strong interest from roughly 20 more countries.
- The proposed framework features tariff-free trade, exchange mechanisms and a price floor intended to stabilize markets and support long-term mining and refining investment.
- President Donald Trump launched Project Vault, a strategic minerals reserve backed by a $10 billion Export-Import Bank loan and nearly $2 billion in private capital.
- Delegations from more than 50 countries are convening in Washington for the first critical minerals summit, as some partners voice skepticism and the EU considers an MoU to develop a U.S. partnership roadmap.