Trump’s Government Pushes for Minerals Trade Zone
Speaking to delegations from over 50 nations, Vance explained that the US is seeking to build international consensus to curb market flooding with cheap imports that could undercut domestic manufacturers. "The Trump administration is proposing a concrete mechanism to return the global critical minerals market to a healthier, more competitive state, a preferential trade zone for critical minerals protected from external disruptions through enforceable price floors," he said.
Vance outlined plans to establish reference prices for critical minerals at every stage of production. These reference prices would act as a floor, maintained through adjustable tariffs for member countries, ensuring fair market value and protecting the integrity of pricing in the zone. "We will establish reference prices for critical minerals at each stage of production, pricing that reflects real-world fair market value, and for members of the preferential zone, these reference prices will operate as a floor maintained through adjustable tariffs to uphold pricing integrity," he added.
Secretary of State Marco Rubio emphasized that countries without their own mineral resources could still participate in other production stages, such as refining or processing. "Our goal is to have a global market that's secure, a global supply that's enduring and is available to everyone, every nation, at an affordable price," Rubio said. He added, "We stand ready and intend to work with each country here today to find a specialized role that you can play. If you don't have minerals, you can help refine them. And the countries gathered here include the largest consumers of critical mineral products, who together have the buying power to build a more resilient and diverse global market."
The initiative reflects a broader effort by the US and its partners to strengthen supply chains for critical resources, enhance market stability, and reduce reliance on a single dominant producer.
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