Advertisement
Categories: BusinessNewsWorld

US Proposes Critical Minerals Price Floors for Preferential Trading Arrangements

Advertisement

WASHINGTON: The United States on Wednesday proposed a preferential trading arrangement for critical minerals to stabilize prices and reduce reliance on China. Pakistan has been briefed on the initiative but has so far approached it cautiously, seeking to maintain close ties with both Washington and Beijing.

US Vice President J.D. Vance outlined plans at the two-day meeting attended by more than 50 countries, emphasizing that erratic pricing in critical minerals had discouraged long-term investment. He proposed a mechanism including established reference prices for each stage of production, which would serve as a floor to maintain fair market value within an adjustable tariff system.

Vice President Vance also hinted at the formation of a trading bloc among allies and partners, stating that its goal was to prevent market manipulation that undermined domestic producers. Several countries had already signed on to the initiative, including India, whose Minister for External Affairs, S. Jaishankar, highlighted “the challenges of excessive concentration” in critical minerals.

Pakistan, which possesses substantial but largely untapped mineral reserves like copper and gold, emphasized its potential at the meeting while avoiding any public alignment with efforts to counter China’s dominance. Islamabad’s Federal Minister for Energy Ali Pervaiz Malik attended as a senior political delegation rather than a high-ranking official, described by officials as an effort to maintain a calibrated approach.

Pakistan is preparing to host its own international minerals conference in April, inviting both the United States and China to participate. The Pakistan Minerals Investment Forum (PMIF) 2026 aims to attract foreign investment and unlock what officials estimate could translate into $6-8 billion in annual mineral export potential.

Advertisement
News Desk

Recent Posts

CCP Enforces Order, Recovers PKR 35M in Ice Cream Case

(CCP) Orders Penalties Against Frozen Dessert Manufacturers The CCP has enforced its order against two…

5 minutes ago

King Charles Has Intense Fear of Feline Pets, Reveals Expert

King Charles reportedly harbors an aversion towards feline pets. This sentiment was documented by royal…

15 minutes ago

Bangladesh FM Holds Talks with India Leaders in New Delhi on Cooperation, Security, Trade, Extraditions and Visas

Bangladesh Foreign Minister Dr Khalilur Rahman met with India's External Affairs Minister S Jaishankar in…

1 hour ago

‘Twilight’ Star Taylor Lautner’s Wife Opens About Pregnancy Anxiety

Taylor Lautner's wife, Tay, has discussed her emotional journey in revealing their pregnancy. She expressed…

1 hour ago

Dakota Mortensen’s Lawyer Accuses Taylor Frankie Paul of Damaging Reputation in Court

Dakota Mortensen's attorney, Joel Kittrell, is criticizing Taylor Frankie Paul following their latest court hearing.…

2 hours ago

JD Vance Commends Hungarian PM Orbán, Criticizes EU Influence on Election

Vice President JD Vance visited Budapest to support Prime Minister Viktor Orbán ahead of Hungary's…

3 hours ago