US to form global ‘buyers club’ for Trump critical minerals push
The Trump administration will meet with officials from over 50 nations on Wednesday to expand Project Vault, its $12 billion reserve for critical minerals, in a bid to end reliance on China. Vice President JD Vance and Secretary Marco Rubio will meet with representatives from Europe, Asia and Africa to expand this effort into a global “buyers club.”
To further support President Trump’s critical mineral goals, US senators will introduce legislation to reauthorize funding for the US Export-Import Bank for the next 10 years.
Meanwhile, Trump on Monday said the US and India had agreed to a trade and tariff deal after he spoke with Indian Prime Minister Narendra Modi.
Trump said the baseline US tariff rate on goods from India would drop to 18% from 25%. The US president also claimed that Modi had “agreed to stop buying Russian Oil,” which would further lower the US’s tariff rate on India. The White House confirmed that an additional 25% “secondary” tariff on India over its purchases of Russian oil would also be dropped.
“Our amazing relationship with India will be even stronger going forward,” Trump wrote on Truth Social.
The apparent US deal with India comes as US trade partners are clinching long-negotiated deals in a rebuke to the Trump tariff regime. India and the EU announced a trade deal last week that the EU dubbed the “mother of all deals” after years of talks.
Trump has in recent weeks leveled new tariff threats at Canada and Mexico, part of a recent blitz aimed at allies that rivals his bluster from early in his second term.
Trump threatened to hit Canada’s aircraft imports with a 50% tariff and said the US would also decertify all new jets from the likes of Bombardier (BDRBF), claiming Canada has used certification hurdles to effectively ban the sale of US Gulfstream jets. Meanwhile, Mexico is facing the potential of levies after Trump promised to impose new tariffs on countries providing oil to Cuba.
The actions continue a string of renewed tariff-based threats from the president. Trump roiled markets earlier this year after he threatened tariffs on European nations that he said were getting in the way of his pursuit of the island. He later called them off.
Estee Lauder (EL) shares slumped 10% before the bell on Thursday, despite beating analysts’ estimates on earnings per share and revenue, but tariff woes caused the beauty group’s shares to tumble.
Trump looks to rebuild mineral supply chains for everything from jet engines to phone
The Trump administration will be launching a $12 billion “emergency warehouse” for critical minerals needed to build cars, phones, and jets. The plan will include buying and storing these minerals now. The US hopes this will reduce its and other countries’ reliance on China for supplies.
The critical mineral’s stockpile news was released on Monday, and Vice President JD Vance plans to deliver a keynote speech on Wednesday at a meeting with the Secretary of State Marco Rubio and other officials from Europe, Asia, and Africa.
US trade chief: India to maintain some agriculture protections in deal with Trump
The Trump administration said on Tuesday that it plans to reduce India’s tariffs on American industrial goods to zero from 13.5%, but will allow India to protect its farmers from foreign competition.
The US Trade Representative Jamieson Greer made the statement a day after President Trump agreed to reduce tariffs on New Delhi, claiming India’s Prime Minister Narendra Modi agreed to stop purchasing Russian Oil.
Trump hit India with 50% tariffs last year, 25% of which was a penalty for purchasing Russian oil, which Trump claimed was helping to fund the war in Ukraine.
Trump’s trade pact with India also includes the dropping of a 25% tariff over Russian oil
President Trump announced Monday that the “reciprocal” tariff rate on goods from India would drop to 18% from 25%, but that announcement underplayed the extent of the tariff reduction in evidence Monday in what the president described as a trade deal between the two nations.
A White House official confirmed that, in addition to the reduction Trump outlined, the White House is also planning to drop a separate tariff of 25% on Indian goods over its Russian oil purchases, which previously amounted to a 50% tariff on Indian goods.
The new total tariff rate of 18% was what Prime Minister Narendra Modi quickly touted in his own social media post after the call with Trump, offering “Big thanks to President Trump on behalf of the 1.4 billion people of India” but not outlining any of the changes on his end, which Trump listed.
Trump said Monday that India had agreed to stop buying Russian oil and also reduce their tariffs and non-tariff barriers against the United States “to ZERO.”
Trump to lower tariffs on India, claims Modi agreed to stop buying Russian oil
President Trump on Monday said the US and India had agreed to a trade deal after he spoke with Indian Prime Minister Narendra Modi.
Trump said the baseline US tariff rate on goods from India would drop to 18% from 25%. The US president also claimed that Modi had “agreed to stop buying Russian Oil.” India is also currently facing an additional 25% “secondary” tariff on its purchases of Russian oil.
“Our amazing relationship with India will be even stronger going forward,” Trump wrote on Truth Social.
Modi also agreed to buy American products “at a much higher level,” Trump said.
The apparent US deal with India comes as US trade partners are clinching long-negotiated deals in a rebuke to the Trump tariff regime. India and the EU announced a trade deal last week that the EU dubbed the “mother of all deals,” which came after years of negotiations between the two sides.
Trump launches $12B critical mineral stockpile to to stop reliance on China
President Trump is planning to launch a $12 billion minerals stockpile, according to Bloomberg News, in a bid to counter the US’s reliance on China for rare earth materials.
The initiative has been dubbed Project Vault and will combine $1.67 billion in private capital with a $10 billion loan from the US Export-Import Bank. It is hoped that this venture will help acquire and store minerals for automakers, tech companies and other manufacturers.
Rare earth materials are key components used in a variety of products, such as smartphones, cars and rechargeable batteries. China has the largest reserve of rare earths and last year restricted exports of the materials due to Trump’s tariffs. In November, China lifted the restrictions as part of a one-year trade truce with the US.
Mexico to seek ‘diplomatic’ ways to help Cuba after new Trump oil tariff
Mexican President Claudia Sheinbaum said Friday that her country will look for alternate ways to help Cuba, including “diplomatic” solutions after President Trump signed an order to levy tariffs on countries that supply Cuba with oil, Reuters reported. Mexico is one of the last nations that supplies Cuba with oil.
US trade deficit widens by the most in nearly 34 years in November
The US trade deficit — the value of imports minus the value of exports — swung wider in November as trade continued to shift in response to the Trump administration’s tariff policies.
Toyota defy’s Trump tariffs and retains top auto crown in 2025 with record sales
President Trump’s global tariffs have failed to stop Toyota Motors (TM), the Japanese car company said on Thursday that it had sold a record 11.3 million vehicles globally in 2025.
Toyota Motors will retain its position as the world’s top-selling automaker in 2025, and its recent sales growth has come despite Trump’s aggressive tariff policies.
Trump initially imposed 25% tariffs on Japanese automakers but reduced them to 15% after reaching a deal with Japan’s Prime Minister Sanae Takaichi.
The stock rose 2% during early trading on Thursday.
BEIJING, CHINA – MAY 14: Nvidia CEO Jensen Huang (C) gestures as he prepares to depart following a welcome ceremony at the Great Hall of the People on May 14, 2026 in Beijing, China. President Trump is meeting with President Xi Jinping in Beijing to address the Iran conflict, trade imbalances, and the Taiwan situation
There’s still plenty to play for across Europe as we head into the final matches of the club season. Here are all the title races, Champions League fights, and relegation battles left to be decided in the top leagues this month. This story will be updated until the end of the campaign. 👉 Jump to:EPL
Manchester United have opened talks with Michael Carrick over continuing as head coach beyond the end of the season. It is understood that, even though there is still much to complete in legal and contractual issues, an agreement could be reached before United’s game against Nottingham Forest on Sunday. The club’s hierarchy, director of football
Today I finally ran an experiment I’ve wanted to try for a long time. If you’re a professional barista—or you run a busy café—this may save you some time. Most coffee shops use 1–1.5 gallon batch brewers (Bunn, Curtis, Fetco, etc.). When I opened Short Sleeves Coffee, I intentionally avoided brewing full 1-gallon batches. I
Key Points The broader stock market is heavily dependent on a handful of stocks. Today’s leading companies have faster growth rates and higher margins than former market leaders. S&P 500 index funds don’t offer as much diversification as they used to. 10 stocks we like better than Nvidia › Will AI create the world’s first
Chef-approved frozen breakfasts with more protein and better ingredients. Eating a healthy breakfast every morning is a great way to start the day, but most people don’t have time to cook. Whether you’re rushing out the door in the morning for work, taking the kids to school or both, there’s usually not much time in
By Carolyn Jones, CalMatters This story was originally published by CalMatters. Sign up for their newsletters. Until last month, California was poised to join nearly a dozen other states that ban cell phones in K-12 schools. But under pressure from school boards and administrators, lawmakers scaled back a bill that would have required such a
London, United Kingdom, May 15, 2026 (GLOBE NEWSWIRE) — BulkQuant has officially launched its AI trading bot platform designed for crypto, forex, and stock market traders seeking a simpler way to automate trading strategies across multiple financial markets. The platform combines AI-powered quantitative analysis, automated trade execution, portfolio monitoring, and adaptive risk management into a
The International Monetary Fund (IMF) has lauded the resilience of Hong Kong’s economy, noting a sustained recovery despite economic activity having yet to return to pre-Covid levels, while warning of downside risks stemming from escalating geopolitical tensions. It also urged Hong Kong to pursue medium-term financial reforms, including the introduction of a goods and services
For the past year, the Smithsonian Institution has found itself in the awkward position of telling the nation’s story while being supported in part by a government that wants to narrow how that story is told. In December, the White House threatened to revoke funding to the institution if it did not hand over a
A follow-up to Daredevil: Born Again Season 2 on Disney+ has become a massive streaming success within days of its launch. The Punisher: One Last Kill has quickly climbed to the top of multiple charts, beating out other titles on the platform. The MCU television special follows the gun-toting vigilante, who finds himself targeted by
The market has been on a roll lately, with the S&P 500 (SNPINDEX: ^GSPC) setting new highs throughout May. If you think you missed your opportunity when the market bottomed in late March, don’t fret. The market hitting new all-time highs is not particularly rare and should not change your investment strategy. And if you
The Hong Kong government’s first land sale in the current financial year has drawn six bids, according to the Development Bureau, including those from the city’s largest developers, suggesting a more confident outlook for the residential property market. At the close of tender for Tung Chung Town Lot No 54 at Area 106A on Friday
Ryan O’Hanlon Close Ryan O’Hanlon ESPN.com writer Ryan O’Hanlon is a staff writer for ESPN.com. He’s also the author of “Net Gains: Inside the Beautiful Game’s Analytics Revolution.” and Bill Connelly Close Bill Connelly ESPN Staff Writer Bill Connelly is a writer for ESPN. He covers college football, soccer and tennis. He has been at
Gabriel Gudmundsson could return for Leeds after a two-match absence with a thigh injury. Pascal Struijk is a doubt after hobbling off during Monday’s 1‑1 draw at Spurs. Full Leeds’ team news will be provided by the manager, Daniel Farke, in his press conference later on Friday. Kaoru Mitoma is set to miss the final
IE 11 is not supported. For an optimal experience visit our site on another browser. Trump Wraps China Summit With Xi Jinping: What Are the Results? 05:41 Xi gives Trump rare tour of secret garden at heart of Chinese government 01:04 Now Playing Trump departs China after two-day summit 01:01 UP NEXT Special Report: Trump
A Hong Kong property developer has been sued for HK$130 million (US$16.6 million) over allegedly breaching guarantor obligations in two bond subscription agreements, becoming the latest lawsuit to implicate the embattled company and following its founder’s sudden death earlier this week. Lofter Group, known for its urban renewal projects across the city’s core districts, and
This report is from this week’s The Tech Download newsletter. Like what you see? You can subscribe here. One look at the roster of U.S. execs that cozied up to U.S. President Donald Trump on the 20+ hours flight from Alaska to China on Wednesday and you get a sense of the American delegation’s key focus
Cerebras, an AI chipmaker, saw its shares nearly double on Nasdaq, closing up 70% with a $95B market cap. Cerebras’s powerful chips are key in the US-China AI tech race. Chris Buskirk, co-founder and chief investment officer of 1789 Capital, a key Cerebras investor, says the company’s IPO is geopolitically significant. On Thursday, shares of
The Google Fitbit Air is very much the talk of the fitness tracking town right now, not only because it’s the first new Fitbit device that we’ve had in years, but it’s also one of the first big brands to go head-to-head with the established Whoop Strap (if you don’t count the Polar Loop and
