Washington: U.S. Vice President JD Vance has urged international allies and partners to join a proposed critical minerals trading bloc as part of ongoing U.S. efforts to counteract China's dominance in key resource supply chains. Speaking at a multilateral meeting on critical minerals in Washington, Vance emphasized the establishment of a "preferential trade zone" to safeguard against external disruptions and maintain stable pricing through adjustable tariffs.

According to Yonhap News Agency, the initiative was discussed during the inaugural Critical Minerals Ministerial hosted by the State Department, attended by South Korean Foreign Minister Cho Hyun and officials from Japan, Australia, and other countries. The meeting aimed at reinforcing and diversifying supply chains for critical minerals essential to high-tech military and consumer products.

Vance highlighted the Trump administration's objective to foster a healthier global critical minerals market through collaboration with U.S. allies and partners. The proposed trading bloc is expected to ensure consistent pricing integrity and establish diverse production centers immune to external disruptions.

Without directly naming China, Vance's proposal is seen as a strategic move to curb Beijing's influence amid the ongoing Sino-U.S. rivalry. He stressed the importance of global collaboration to achieve self-reliance and greater independence among the participating nations.

U.S. Secretary of State Marco Rubio also addressed the need for secure and enduring global supply chains during the meeting. He introduced a new initiative, the Forum on Resource Geostrategic Engagement (FORGE), aimed at fostering collaboration and building a network of international partners to enhance economic security.

Rubio expressed gratitude to South Korea for its leadership in the Minerals Security Partnership, a previous U.S.-led initiative focused on developing sustainable supply chains for critical energy minerals.