The Trump administration plans to deploy nearly $12 billion to create a strategic reserve of rare earth elements
ByJOSH BOAK Associated Press
February 2, 2026, 9: 34 AM
WASHINGTON — The Trump administration plans to deploy nearly $12 billion to create a strategic reserve of rare earth elements, a stockpile that could counter China’s ability to use its dominance of these hard to process metals as leverage in trade talks.
The White House confirmed on Monday the start of “Project Vault,” which would initially be funded by a $10 billion loan from the US Export-Import Bank and nearly $1.67 billion in private capital. The minerals kept in the reserve would help to shield the manufacturers of autos, electronics and other goods from any suppl