Creating a Preferential Trade Zone for Critical Minerals

The United States, together with its partners and allies, has set out to reshape the global market for critical minerals and rare earths. Secretary of State Marco Rubio, joined by Vice President JD Vance, Treasury Secretary Scott Bessent, Interior Secretary Doug Burgum, Energy Secretary Chris Wright, and U.S. Trade Representative Ambassador Jamieson Greer, hosted representatives of 54 countries and the European Commission at the 2026 Critical Minerals Ministerial.

Critical minerals and rare earths are essential for the most advanced technologies and will only become more important as artificial intelligence, robotics, batteries, and autonomous devices transform our economies. Today, this market is highly concentrated, leaving it a tool of political coercion and supply chain disruption, putting core interests at risk. The goal is to build new sources of supply, foster secure and reliable transport networks, and transform the global market into one that is secure, diversified, and resilient.

So, the Trump administration is proposing a mechanism to return the global critical minerals market to a healthier, more competitive state, said Vice President Vance. “A preferential trade zone for critical minerals, protected from external disruptions through enforceable price floors.”

“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.”

“Together,” said Vice President Vance, “we want members to form a trading block among allies and partners, one that guarantees American access to American industrial might, while also expanding production across the entire zone. The benefits will be immediate and durable. Regardless of how much material flows into the global market, prices within the preferential trade zone will remain consistent.”

“Over time, our goal within that zone is to create diverse centers of production, stable investment conditions, and supply chains that are immune to . . .external disruptions,” said Vice President Vance. For those who join, the U.S. will offer a “foundation for private financing and secure access to the critical mineral supplies your nation would require in an emergency or some other contingency.”

“We are all on the same team, and we need to create the economic incentives that reward people for investing and building in our countries,” stressed Vice President Vance. “Membership will be vital for developing economies seeking to expand mining capacity. And it will be just as important for the advanced economies that rely on these materials to sustain their advanced industries to sustain their growth and security.”

“While we believe America’s market is large enough to create its own critical minerals trading zone, this entire effort will be stronger and far more competitive if we build it together,” stressed Vice President Vance.

“So, I propose that we come together and we shape a market worthy of the great men and women of our countries who depend on that market.”