US wants to create a critical minerals trading bloc with its allies to counter China

The Trump administration aims to create a critical minerals trading bloc with allies to counter China's dominance in this sector. The initiative, announced by Vice President JD Vance, seeks to stabilize prices and secure supply chains for essential minerals used in high-tech products, including electric vehicles and missiles. The bloc would use tariffs to prevent China from flooding the market with cheap materials and to encourage domestic production among member countries.