US Proposes Critical Minerals Trading Bloc with Allies to Counter China’s Market Dominance

The United States, led by Vice President JD Vance, has proposed forming a critical minerals trading bloc with over 50 allied and partner countries to reduce dependence on China, which controls a significant share of global rare earth mining and processing. The bloc aims to coordinate supply, pricing, and production strategies to secure materials vital for technologies like semiconductors and electric vehicles. India and other nations participated in the initiative, emphasizing supply chain resilience. China criticized the plan, viewing it as a challenge to the international trade order.