China, flexing muscle in a trade war launched by Trump, last year tightened its supply chain for rare earths, sending shivers through the global economy. China -- which mines some 60 percent of the world's rare earths and processes around 90 percent -- offered the United States a one-year reprieve in a deal with Trump in October. On Monday he unveiled "Project Vault," which aims to stockpile critical minerals and effectively anything else needed by US industry. "We're not just doing certain minerals and rare earths. The European Union, which has seen persistent friction with Trump, hopes to seek a formal agreement on rare earths with the United States.
