Trump unveils US$12 billion critical mineral reserveBloombergUS President Donald Trump on Monday formally announced plans to launch a US$12 billion critical minerals stockpile, in his latest effort to aid manufacturers while minimizing reliance on Chinese rare earths. The so-called Project Vault is meant to “ensure that American businesses and workers are never harmed by any shortages,” Trump said at the White House. US President Donald Trump announces the creation of a critical minerals reserve during an event in the Oval Office at the White House in Washington on Monday. “Just as we have long had a strategic petroleum reserve and a stockpile of critical minerals for national defense, we’re now creating this reserve for American industry, so we don’t have any problems,” Trump said. Others present at the Oval Office event included General Motors Co CEO Mary Barra and mining billionaire Robert Friedland, representing both producers and users of critical minerals.

Source: Taipei Times February 03, 2026 16:32 UTC