US allies should pay more for critical minerals sourced from outside of China, the White House’s trade representative said, as Washington looks to break Beijing’s dominance in the sector.
The EU and US are reportedly nearing an agreement to coordinate on mining, setting up a club of countries to trade the minerals at set minimum prices, which some partners worry would raise costs for businesses and spur China’s retaliation.
But US trade czar Jamieson Greer dismissed such concerns, telling the Financial Times that “we will all pay a national security premium to have a secure supply chain.”
The divisions underscore the West’s challenges in combating China; following decades of building up its supply chains, Beijing now controls 90% of global processing.
