US Vice President JD Vance urged allies to join a critical minerals trading bloc at a meeting in Washington. The inaugural Critical Minerals Ministerial launched the FORGE initiative as a successor to the MSP, with South Korea chairing it through June. The effort aims to counter China's dominance in key resources through diversified supply chains.
On February 4, 2026 (US time), US Vice President JD Vance called on allies and partners to join a proposed critical minerals trading bloc at the inaugural Critical Minerals Ministerial held at the State Department in Washington D.C. Vance outlined the Trump administration's vision for a 'preferential trade zone' that would maintain 'price floors' through 'adjustable tariffs' to protect against external disruptions.
"We want members to form a trading bloc among allies and partners, one that guarantees American access to American industrial might while also expanding production across the entire zone," Vance said. He noted that participants represented nearly two-thirds of global GDP, enabling greater independence and self-reliance. "We are all on the same team. We are all rowing in the same direction."
Secretary of State Marco Rubio emphasized addressing supply chain vulnerabilities as a key Trump administration priority, stating, "Our goal is to have a global market that's secure, a global supply chain that's enduring and available to everyone at an affordable price." In a subsequent press conference, Rubio highlighted the launch of FORGE, or Forum on Resource Geostrategic Engagement, aimed at fostering collaboration and building a partner network. He thanked South Korea for its leadership in the preceding Minerals Security Partnership (MSP).
According to South Korea's foreign ministry, 56 countries attended the meeting, where Foreign Minister Cho Hyun welcomed the FORGE initiative and pledged to expand cooperation and pursue concrete projects. FORGE builds on the MSP to strengthen diversified, resilient supply chains at policy and project levels, with South Korea chairing through June. Cho held sideline talks with counterparts from Canada, India, Israel, Kazakhstan, Mexico, Mongolia, and the Netherlands.
The proposal seeks to mitigate vulnerabilities from China's dominance in resources like rare earth elements amid intensifying US-China rivalry, promoting allied efforts for secure high-tech and military supply chains.
