U.S. Leads Global Push to Break China's Hold on Critical Minerals

The United States hosts a summit with over 50 countries to enhance access to critical minerals, challenging China's dominant position in global supply chains. The initiative includes strategic stockpiles and aligns with U.S. policies that encourage diversification. China's influence on these resources creates significant geopolitical and economic challenges.

The United States is spearheading a global effort to improve access to critical minerals, bringing together representatives from over 50 countries. The summit, scheduled for Wednesday, targets China's control over essential industrial materials that fuel various high-tech industries and leaves global supply chains susceptible to geopolitical tensions.

President Donald Trump has initiated Project Vault, a strategic stockpile estimated at $10 billion, which aims to counter Beijing's leverage over the production and export of crucial minerals. The initiative is supported both by public funds and private investments and is seen as a response to China's restrictive trade practices that hamper global efforts to diversify their sources of supply for semiconductors, electric vehicles, and advanced weaponry.

Countries like South Korea, India, and Germany are participating in the talks hosted in Washington, which seek to formulate cooperative policy tools to challenge China's dominance in this sector. The dialogue is geared towards strategic trade, investment measures, and collaborations to develop new mining capacities and market interventions that foster a more resilient global supply chain.

(With inputs from agencies.)