00:00The United States is launching a new push to build a critical minerals trade zone,
00:05aiming to reduce global dependence on China for materials essential to modern technology and defense.
00:12Speaking in Washington, Vice President J.D. Vance says the U.S. is working with allies
00:16to set coordinated price flaws for key minerals used in semiconductors, electric vehicles and defense systems.
00:23The plan would establish reference prices at each stage of production,
00:30with adjustable tariffs used to prevent cheap imports from undercutting domestic and allied producers.
00:35The Trump administration wants to loosen China's grip on critical mineral processing.
00:41Beijing restricted exports of rare earths last year, disrupting U.S. and European manufacturing.
00:48Secretary of State Marco Rubio said 55 countries attended the talks,
00:52including India, Japan, South Korea, Germany and Australia,
00:56highlighting global concern over supply concentration.
01:00China, responding ahead of the meeting, said it has played a constructive role in global supply chains
01:05and warned against measures that could escalate trade tensions.
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