Former U.S. President Donald Trump has called for a major global initiative to reduce reliance on China for critical minerals. This move comes amid growing concerns over China’s dominance in the Indo-Pacific and worldwide supply chains.
Trump’s administration is organizing an upcoming Critical Minerals Summit in Washington, aimed at uniting major allies including India, Australia, Japan, the UK, and the European Union. The summit, led by U.S. Secretary of State Marco Rubio, will focus on safeguarding national security and economic stability by creating a collective strategic reserve of essential minerals.
Australia has already taken a significant step by announcing a $6.5 billion strategic mineral reserve to mitigate potential supply disruptions by China, covering minerals such as antimony and gallium. Japan has also been establishing similar reserves for several years to prepare for any future supply crises.
During the summit, resource-rich countries are seeking “minimum price guarantees” from the U.S. for these minerals to protect domestic mining industries against potential market manipulation by China.
Trump’s recent actions have created a complex dynamic for global partners. While he organizes the summit to challenge China, he also spoke positively with Chinese President Xi Jinping over the phone, describing him as a “close friend” and discussing trade, with a potential visit to Beijing planned in April.
This summit is seen as a strategic effort to strengthen cooperation among allied nations, ensuring the stability of critical mineral supplies while countering China’s global monopolistic influence.
