Trump will stockpile $12 billion in critical minerals to counter China

Summary

Bloomberg's Joe Deaux discusses the US government's plan to launch a $12 billion critical-minerals stockpile effort, Project Bolt, using a $10 billion Export-Import Bank loan and $1.6 billion in private capital. The program is intended to counter China's dominance in rare earths and critical-minerals processing by building a stockpile available to US private companies. Deaux notes that OEMs such as Stellantis, Boeing, and GM are participating, but key details about purchase timing, material form, and long-term policy durability remain unclear.

• The US is preparing a $12 billion critical-minerals stockpile program called Project Bolt.
• Funding includes a $10 billion Export-Import Bank loan and $1.6 billion in private capital.
• The stockpile would be available to US private companies, unlike the Pentagon's existing defense stockpile.
• China's rare-earth export controls and processing dominance are key motivations for the program.
• More than a dozen OEMs, including Stellantis, Boeing, and GM, have joined the partnership.
• It remains unclear how quickly purchases will occur and whether the policy will outlast the Trump administration.
• Rare earths and other critical minerals are seen as the main focus, with cobalt and copper also mentioned as relevant materials.