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U.S. proposes preferential trade zone and unveils major financing, stockpiling and permitting moves to shore up critical-minerals supply
Summary
At a Washington ministerial, U.S. officials proposed a preferential trade zone with enforceable price floors to stabilize critical-minerals markets and announced large financing vehicles, a new strategic stockpile and faster permitting to spur domestic mining and processing.
Vice President Vance proposed a new allied trading bloc and several U.S. measures intended to stabilize global critical-minerals markets and speed domestic production.
In an opening address to ministers and delegates, Vice President Vance said the administration would “establish reference prices for critical minerals at each stage of production” and maintain those floors for members of a proposed preferential trade zone through “adjustable tariffs.” He framed the plan as a way to prevent sudden foreign-market flooding that he said causes projects to fail and discourages long-term investment.
The proposal accompanies a suite of U.S. actions officials described as already underway or announced: a reported $100,000,000,000 in lending authority for critical-minerals investments to the Office of Strategic Capital, an earlier Congressional allocation of $2,000,000,000 for the national defense stockpile, and “Project Vault,”…
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