US, UK, EU, Australia and more nations are set to convene in Washington this week for a critical minerals summit. The gathering aims to strengthen non-China supply chains and discuss strategies for countries to de-risk from Beijing's influence.
The meeting is seen as an effort to repair transatlantic ties that have been strained by the Trump era, with hopes of paving the way for other alliances to help nations diversify their mineral sources. Australia, in particular, has been positioning itself as a critical minerals alternative to China, with plans to stockpile essential elements like antimony and gallium.
The summit involves around 20 countries, including G7 members, India, South Korea, Mexico, Australia, New Zealand, and possibly Argentina. Discussions will focus on calls for the US to guarantee minimum prices for critical minerals and rare earths, which has sparked hopes of a more stable supply chain.
Japan has already taken steps in this direction by building reserves over the years to build resilience against China's willingness to switch off supplies. However, Australia's resources minister, Madeleine King, has stated that her country will continue with its critical minerals reserve program regardless of US decisions.
The meeting is being convened by US Secretary of State Marco Rubio, who hopes to ramp up non-China supply chains as fast as possible with potential pricing and investment support. The US sees strengthening these supply chains as vital for the economy, national security, technological leadership, and a resilient energy future.
EU sources indicate that successful talks could lead to a joint statement that would mark a significant shift in relations between allies working with the US to de-risk from China rather than constantly fighting off Trump's tariff threats. The UK will also be represented at the summit, with economic security seen as hand-in-hand with national security.
Furthermore, the EU is expected to press the US to drop its new global steel derivative tariffs, which would lead to punitive levies on products containing elements of steel. The first derivative tariff list was published in August, and while there have been concerns about a second list being introduced this January, no details have emerged yet.
The Trump administration's constant threat of new tariffs has caused tension among EU countries, with some arguing that this is a breach of trust following the signing of the US-EU joint statement on trade. The summit represents an opportunity for the US and its allies to reaffirm their commitment to cooperation and diversify their mineral sources beyond China.
The meeting is seen as an effort to repair transatlantic ties that have been strained by the Trump era, with hopes of paving the way for other alliances to help nations diversify their mineral sources. Australia, in particular, has been positioning itself as a critical minerals alternative to China, with plans to stockpile essential elements like antimony and gallium.
The summit involves around 20 countries, including G7 members, India, South Korea, Mexico, Australia, New Zealand, and possibly Argentina. Discussions will focus on calls for the US to guarantee minimum prices for critical minerals and rare earths, which has sparked hopes of a more stable supply chain.
Japan has already taken steps in this direction by building reserves over the years to build resilience against China's willingness to switch off supplies. However, Australia's resources minister, Madeleine King, has stated that her country will continue with its critical minerals reserve program regardless of US decisions.
The meeting is being convened by US Secretary of State Marco Rubio, who hopes to ramp up non-China supply chains as fast as possible with potential pricing and investment support. The US sees strengthening these supply chains as vital for the economy, national security, technological leadership, and a resilient energy future.
EU sources indicate that successful talks could lead to a joint statement that would mark a significant shift in relations between allies working with the US to de-risk from China rather than constantly fighting off Trump's tariff threats. The UK will also be represented at the summit, with economic security seen as hand-in-hand with national security.
Furthermore, the EU is expected to press the US to drop its new global steel derivative tariffs, which would lead to punitive levies on products containing elements of steel. The first derivative tariff list was published in August, and while there have been concerns about a second list being introduced this January, no details have emerged yet.
The Trump administration's constant threat of new tariffs has caused tension among EU countries, with some arguing that this is a breach of trust following the signing of the US-EU joint statement on trade. The summit represents an opportunity for the US and its allies to reaffirm their commitment to cooperation and diversify their mineral sources beyond China.
!!! it's like, the US and all these other countries are finally coming together to take on china's dominance in minerals 
i mean, australia is already doing its thing with those reserves 
and now it's everyone else's turn to step up 
i hope they can get some concrete plans out of this meeting, like a joint statement or something 
that would be amazing 
Australia sounds like a cool country by the way, have they got any nice beaches or something? 
. Back in the early 2000s, we thought China was gonna be a major player in the global economy, but now they're kinda... holding everything together 
. I mean, it's like that old saying "don't count your chickens before they hatch"... except instead of eggs, it's critical minerals and rare earths 
.
.
, but hopefully this summit is gonna help us move past some of those... issues 
!
️ australia is a great example of a country taking matters into its own hands with their critical minerals reserve program 
japan already has this thing down pat by building up their own reserves 
it's like, no one wants punitive levies on products containing elements of steel 
and i'm all about allies working together to strengthen their economies 
if it all goes smoothly, that is... fingers crossed 
. and don't even get me started on australia trying to position itself as some kind of alternative to china... good luck with that, mate 
. the EU's got a point about dropping those steel tariffs though – it's just a slap in the face for countries that actually have to pay for their own defense 
The US is leading the charge with this summit, and I'm hoping they can make some real progress 
It'd be great if the summit could lead to a joint statement that shows allies are committed to working together 
- and everyone knows they're the current king of the critical mineral game.