"US Vice President JD Vance announced plans to establish a critical minerals trade bloc with allies and partners, proposing coordinated price floors as Washington escalates efforts to loosen China's grip on materials crucial to advanced manufacturing. The Trump administration intends to employ tariffs to maintain minimum prices and shore up supplies of critical minerals used to make semiconductors, electric vehicles and advanced weapons."
""We want members to form a trading bloc among allies and partners, one that guarantees American access to American industrial might while also expanding production across the entire zone," Vance said at the opening of a meeting that Secretary of State Marco Rubio hosted with officials from 55 European, Asian and African nations. "We want to eliminate that problem of people flooding into our markets with cheap critical minerals to undercut our domestic manufacturers," Vance told a gathering without mentioning China."
The US plans to establish a critical minerals trade bloc with allies and partners and propose coordinated price floors to reduce dependence on China for materials used in semiconductors, electric vehicles and advanced weapons. The plan includes employing tariffs to maintain minimum prices and shore up supplies, and establishing reference prices at each production stage with adjustable tariffs as price floors within a preferential trading zone. The objective is to expand production across allied territories, guarantee American access to industrial inputs, prevent flooding of markets with cheap critical minerals that would undercut domestic manufacturers, and increase Western self-reliance. Fifty-five countries attended related talks.
Read at www.dw.com
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