The U.S. government is devising a new global market for rare earth elements (REEs) that hinges on artificial intelligence (AI) to set prices, as reported by sources familiar with the plan talking to Reuters. This initiative, known as Open Price Exploration for National Security (OPEN), spearheaded by the U.S. Department of Defense, signals an attempt to counter China's dominance in this critical market. The use of AI aims to create a standardized pricing mechanism that could address fluctuations typical of the REE market

This pricing strategy will not only utilize AI but will also potentially integrate tariffs as safeguards against dumping or imbalances in global supply. Questions have arisen regarding how these tariffs would affect products containing essential minerals, suggesting that broader trade implications may arise in international relations, particularly for countries reliant on these materials from China. The discourse surrounding these new measures reflects ongoing geopolitical tensions and the urgent need for supply chain security in the face of global dependencies.

Furthermore, in February, Vice President J.D. Vance emphasized the necessity for the U.S. and at least 50 other countries to enforce 'benchmark prices for critical minerals at every stage of their production.' The OPEN program commenced in 2023 and indicates a strategic pivot by the U.S. that could reshape global market dynamics for rare earth elements, pivotal to numerous high-tech manufacturing processes.