Overview
- Vice President JD Vance proposed a preferential zone that sets reference prices as enforceable floors, using adjustable tariffs to prevent market dumping of critical minerals.
- Fifty-five countries attended the State Department ministerial where Secretary of State Marco Rubio launched FORGE to coordinate policy, pricing and project development across partners.
- U.S. officials said 11 new bilateral agreements were signed and talks concluded with 17 more nations, while USTR announced a plan with Mexico and a trilateral arrangement with the EU and Japan to fortify supply chains.
- Project Vault, a U.S. strategic reserve announced earlier this week, is backed by a record $10 billion Export‑Import Bank loan and roughly $2 billion in private capital to stabilize supplies and support manufacturers.
- China’s dominance in mining and processing remains the core concern, with Beijing’s embassy stressing its stabilizing role as analysts note the U.S. approach could raise near‑term costs and heighten trade frictions.