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

WASHINGTON, DC - FEBRUARY 04: US Vice President JD Vance speaks at the first Critical Minerals Ministerial in the Loy Henderson Conference Room at the State Department's Harry S. Truman Building on February 04, 2026 in Washington, DC. About 50 countries attended the ministerial, a gathering to discuss the creation of tech supply chain partnerships that can bypass China. The United States has been looking for alternative sources for rare earth minerals since Beijing cut the U.S. off from its supply last year. (Photo by Chip Somodevilla/Getty Images)