Washington races to build a $1bn mineral stockpile after China tightens export controls.
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The Pentagon is ramping up efforts to secure critical minerals, planning to buy as much as $1 billion worth of supplies in a move to curb US reliance on China, according to a Financial Times report over the weekend. The purchases, led by the Defense Logistics Agency, form part of a broader stockpiling strategy ordered by the Trump administration after Beijing tightened export curbs on key materials used in defence and technology manufacturing.
China remains the dominant supplier of rare and strategic metals vital for products such as fighter jets, radar systems, and smartphones. A former US defence official told the FT that Washington’s push to build reserves was “deliberate and expansive.” The $1 billion target represents a sharp escalation from previous stockpile efforts.
The move follows Beijing’s latest restrictions on rare earths and related technologies, which triggered President Trump to cancel a meeting with Xi Jinping and vow 100% tariffs on Chinese goods. “China cannot be allowed to hold the world captive,” Trump posted on Truth Social.
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As it happened:
From Friday ICYMI:
From late Friday:
China responds over the weekend:
Some TACO moves already, some murmurings of Trump already backing off. BRB with more on this:
