U.S. Secretary of State Marco Rubio gives opening remarks at the Critical Minerals Ministerial Meeting at the State Department in Washington, DC, on February 4, 2026.
Jonathan Ernst | Reuters
The United States on Wednesday announced new efforts to mobilize allies into preferential trade blocs for critical minerals, including price floors, to counter China’s dominance of critical technology and defense markets.
The plan was discussed at the Critical Minerals Ministerial Conference in Washington this week, attended by representatives from 54 countries, the European Union and senior Trump administration officials.
After this event, Washington announced that it had signed bilateral significant minerals agreements with 11 countries, building on 10 similar agreements signed in the past five months. Negotiations with 17 other countries have also been completed.
The agreement’s goals are to address pricing challenges, foster development, create fairer markets, and expand access to financing in the critical mineral sector.
Secretary of State Marco Rubio, who hosted the cabinet meeting, also announced on Wednesday the creation of the Forum for Resources Geopolitical Engagement (FORGE), a partnership to coordinate important mineral policies and projects.
“We have many countries that have signed this and we hope many more will sign…The purpose of FORGE is to foster cooperation and build a network of partners around the world,” Rubio said.
FORGE will complement a previous effort between the United States and nine partners known as “Pax Silica.” While Pax Silica is focused on securing AI-related supply chains, FORGE is designed as a broader platform for coordinating critical minerals policy, pricing, and project development.
Rubio warned of the risks associated with concentrating critical minerals in “one country,” with an obvious reference to China, including geopolitical implications and the potential for disruption from a pandemic or instability.
In recent years, the Chinese government has exercised market dominance in the mining and refining of the most important minerals as a geopolitical tool, selectively restricting exports.
Rubio also criticized “unfair practices” such as state subsidies that hurt competitors’ interests and make projects economically unviable.
In separate remarks, Vice President J.D. Vance said the U.S. aims to “eliminate the problem of people flooding the market for cheap critical minerals, squeezing the profits of domestic manufacturers.”
“For critical minerals, we will set benchmark prices at each stage of production,” Vance said. “For member states of preferential zones, these reference prices act as floors maintained through adjustable fees to maintain price integrity.”
The development comes amid a broader effort by the Trump administration to build a stronger critical minerals supply chain.
On Monday, President Donald Trump announced Project Vault, a $12 billion reserve backed by $10 billion from the U.S. Export-Import Bank and $2 billion in private funds, to stabilize prices and support manufacturers. The stockpile includes important minerals such as rare earths, lithium and copper.
