Trump forms new coalition against China's technological and mineral dominance
The Donald Trump administration has announced the creation of a new international coalition aimed at limiting China's dominance in critical minerals and high-tech sectors. On Friday, Washington will sign the Pax Silica Declaration along with Singapore, Australia, Japan, South Korea and Israel. This step is aimed at forming a joint response to China's near-monopoly control over rare earth metals needed for the defence industry and modern technologies. This is reported by The Public with reference to Politico.
China currently accounts for a significant portion of the global rare earths market and has already used export restrictions as a tool of pressure in response to Washington's tough tariff policy. In addition, the United States is increasingly concerned about Beijing's large-scale investments in artificial intelligence and quantum technologies, which could give it a strategic advantage in the global economy.
The signatories to the declaration plan to coordinate export control policies, investment restrictions, and approaches to combating dumping. According to administration adviser Tariq Helberg, the coalition's main task is to form a "twenty-first century economic security system" and create an alternative to the influence of China's Belt and Road Initiative.
After the signing of the declaration, a one-day Pax Silica Summit will be held in Washington with the participation of representatives of the EU, Canada, the Netherlands and the UAE. The summit will discuss opportunities for cooperation in mineral processing, logistics and high-tech manufacturing. The White House emphasises that the coalition will be expanded, in particular by countries with developed production and resource base.
The US expects that the new association could become an analogue of the G7 for the era of artificial intelligence and global technology races.
