White House meeting aims to bolster U.S. critical minerals production amid efforts to curb reliance on Chinese imports.
President Donald Trump will meet with executives from Rio Tinto, BHP, MP Materials, and Freeport-McMoRan on Friday to discuss reducing U.S. dependence on China for critical minerals. The meeting underscores the administration’s push to secure domestic supply chains for key industrial and defense materials.
China currently dominates global production of rare earth elements and other critical minerals, accounting for over 60% of worldwide output. The U.S. has sought to diversify sources, with recent initiatives including funding for domestic mining projects and partnerships with allied nations.
No immediate market reaction was reported, but the move aligns with broader trade and industrial policy shifts aimed at countering Chinese influence in strategic sectors.