TLDR
- The U.S. formed FORGE to coordinate global critical mineral policy, pricing, and project development with allies.
- Over 28 countries finalized or signed new mineral trade agreements to boost fairer pricing and supply chain security.
- The agreements aim to counter unfair practices like subsidies and below-market exports, often linked to China.
- Vice President JD Vance announced reference price floors and adjustable tariffs to protect domestic manufacturers.
- President Trump unveiled Project Vault, a $12B reserve to stabilize mineral prices and support U.S. industry.
The U.S. introduced new actions on Wednesday to lead a global effort reshaping trade rules for critical minerals; the initiatives target pricing control, ally cooperation, and China’s dominance, as agreements and a new forum took shape during a large ministerial meeting in Washington.
FORGE Coalition to Align Global Mineral Policies
According to a CNBC report, Secretary of State Marco Rubio hosted the Critical Minerals Ministerial this week in Washington. The event brought together representatives from 54 countries and the European Union. Officials discussed new frameworks to coordinate policy, stabilize markets, and increase investment.
Rubio announced the formation of a new alliance called the Forum on Resource Geostrategic Engagement (FORGE). The group aims to synchronize mineral-related policies and pricing across participating nations. “We have a number of countries that have signed on… and many more that we hope will do so,” Rubio stated.
FORGE will serve as a global coordination hub for mineral pricing and project development. It will work alongside an earlier agreement called Pax Silica. While Pax Silica focuses on securing artificial intelligence supply chains, FORGE will take a broader role.
Rubio emphasized the risks of mineral supply concentration in a single country. He did not name China directly but pointed to the dangers of supply disruption. He highlighted how instability, pandemics, or politics could affect global access to vital minerals.
U.S. Signs Deals with Over Two Dozen Countries
During the forum, the U.S. signed bilateral critical minerals agreements with 11 countries. These deals follow 10 similar agreements reached in the last five months. Negotiations also concluded with 17 additional countries.
The agreements aim to coordinate pricing, encourage project financing, and make markets fairer for mineral trade. Officials described the pacts as steps to unlock more secure mineral supply chains. Rubio said the U.S. would “continue expanding its network of reliable partners.”
The agreements form part of a larger U.S. effort to build resilient critical mineral supply chains. Officials say unfair competition has hurt domestic industries. State subsidies and below-market prices have made new projects unsustainable.
Vice President JD Vance also addressed the pricing issue during the summit. He said the U.S. would enforce pricing floors to protect domestic producers. “We will establish reference prices… maintained through adjustable tariffs,” he explained.
U.S. Establishes Project Vault to Stabilize Supply
As we had reported earlier, President Trump introduced Project Vault. The initiative includes a $12 billion mineral reserve to stabilize prices. It combines $10 billion from the U.S. Export-Import Bank and $2 billion in private investment.
The reserve will stockpile essential materials, including lithium, copper, and rare-earth elements. Officials said the goal is to shield manufacturers from extreme price fluctuations. Project Vault will support domestic production and reduce dependence on external sources.
Trump described the reserve as part of his administration’s push to “protect and grow” U.S. manufacturing. The announcement followed months of planning and interagency coordination. Project Vault marks the largest mineral reserve investment in recent U.S. history.
The reserve complements the FORGE initiative by adding financial stability to policy coordination. It will give manufacturers predictable access to materials needed for defense and technology. This development aligns with broader U.S. plans to compete in the global minerals arena.
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Source: https://blockonomi.com/u-s-launches-global-plan-to-reshape-critical-minerals-market/