Treasury Secretary Scott Bessent said the United States plans to set price floors across sectors such as rare earths, suggesting a significant escalation in the administration’s market interventions aimed at countering China‘s influence over supply chains.

The Trump administration has sought to bolster its domestic critical mineral and rare earth supply chain to reduce its reliance on China through executive orders, congressional action, and, notably, deals to take direct stakes in private companies and to pay minimum prices for their products.