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The U.S. government has launched 'Project Vault', a $12 billion initiative to acquire and store critical minerals, including rare earth metals, amid escalating trade tensions with China. Funded by a mix of government loans and private capital, the program involves major companies like General Motors and Boeing, and aims to stabilize supply and prices following market fluctuations. Agreements with Australia, Japan, and Malaysia are part of efforts to reduce reliance on China's dominance in the rare earth sector.