In February 2026, President Trump announced one of the most ambitious industrial security initiatives of his presidency: Project Vault, a $12 billion strategic stockpile of critical minerals and rare earths designed to protect American manufacturers and the defense industrial base from supply disruptions. This announcement was backed by a $10 billion loan from the U.S. Export-Import Bank, the largest single financing in the agency’s 92-year history, plus roughly $2 billion in private capital from companies like General Motors, Boeing, Google,…

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