Here’s what President Trump is thinking.
President Donald Trump is quietly preparing for what his administration sees as a looming national security emergency—one tied directly to America’s dependence on China.
On Monday, Trump administration officials confirmed plans to begin stockpiling critical minerals, launching the initiative with roughly $12 billion in initial funding, according to reporting first obtained by Fox News.
The program is designed to protect U.S. manufacturers from sudden supply disruptions while sharply reducing America’s reliance on Chinese-controlled materials that are vital to modern technology and defense.
White House officials say the effort, internally referred to as “Project Vault,” will begin with $1.67 billion in private investment, alongside a $10 billion loan backed by the U.S. Export-Import Bank.
Trump is expected to meet at the White House with General Motors CEO Mary Barra and mining investor Robert Friedland, signaling direct coordination between American industry and federal leadership.
Why This Matters
China currently controls between 60 and 70 percent of the world’s rare-earth mining and processing capacity. These materials are essential for electric vehicles, smartphones, advanced weapons systems, and medical equipment.
Without reliable access to rare earths, production of EVs, military aircraft, MRI machines, and consumer electronics could stall—putting U.S. jobs, defense readiness, and economic stability at risk.
The Trump administration has already taken steps to diversify supply chains, securing mineral agreements with Australia, Japan, and Southeast Asian partners, while urging European allies to follow the same path.
In October, Trump finalized an $8.5 billion rare-earth cooperation deal with Australia, marking one of the largest international agreements focused on mineral security.
China’s Pressure Campaign
Tensions escalated last year when China restricted exports of rare-earth materials during ongoing trade disputes with the United States—moves widely viewed as economic leverage against American manufacturing.
In response, the administration accelerated domestic production efforts.
Treasury Secretary Scott Bessent previously announced the opening of a new rare-earth processing facility in South Carolina, with additional projects underway in Texas and other states.
“This is the first magnet made in the United States in 25 years,” Bessent said at the time. “We’re ending China’s chokehold on our supply chain.”
Bessent credited fast permitting and what he described as President Trump’s all-hands-on-deck approach to what officials now openly describe as a national security priority.
The Bigger Picture
Supporters say Project Vault reflects Trump’s long-standing focus on American independence, domestic manufacturing, and economic security—addressing vulnerabilities before a crisis forces emergency action.
Rather than waiting for shortages or geopolitical pressure, the administration appears determined to ensure the United States controls the materials it needs to remain strong, secure, and competitive.
