The US on Wednesday said it wants dozens of countries to join a trading bloc for critical minerals to increase members' domestic production and to defend against low-cost supplies from places like China, which produces the majority of the world's rare earths.
Under the proposal, Vice President JD Vance said members of the “preferential zone” would allow their critical minerals to benefit from a price floor that would set a “fair market value” through adjustable tariffs.
“We want to eliminate that proble
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