The United States has proposed a trade bloc to diversify supply chains for critical minerals essential to defense and advanced industries and invited South Korea and other nations to join.

Speaking at a State Department meeting in Washington on Wednesday, U.S. Vice President JD Vance said the trade war over the past year exposed how dependent most states are on critical minerals controlled by China.

Vance then said that the U.S. wants a trading bloc among allies and partners, whom he described as on the "same team."

The meeting was attended by foreign ministers from South Korea, Australia, India, and Japan and other countries. 

At a news conference, U.S. Secretary of State Marco Rubio referred to the proposed trade bloc as the “Forge Initiative,” saying 55 partner countries have expressed interest in cooperation and that many have already signed on.

Rubio also thanked South Korea, noting that it had played a leading role in the Minerals Security Partnership, which he said had helped fill the gap ahead of the launch of the new trade bloc.