Trump Administration Plans Critical Minerals "Preferential Trade Zone"
Although not explicitly named, China—the world's top producer of critical minerals—was an underlying focus during Wednesday’s discussion.
Speaking to delegations from more than 50 nations, Vance emphasized that the United States seeks to "eliminate that problem of people flooding into our markets with cheap critical minerals to undercut our domestic manufacturers," a pointed reference to Chinese trade practices that have repeatedly drawn criticism from the US and its allies.
Vance elaborated that "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," during a ministerial session in Washington.
He further explained, "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."
Additionally, Secretary of State Marco Rubio noted that countries lacking sufficient critical minerals could still participate in other segments of production, underscoring that "everyone here has role to play."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
