Strategic stockpiles of rare earth materials is another way for America to achieve rare earth independence from China. This company wants to start one.

Shares of U.S.-listed rare earth miners slumped before the bell on Monday after Washington and Beijing reached a framework for a trade deal that could pause planned U.S. tariffs and Chinese export controls on critical minerals,

China’s far-reaching rules already affect manufacturers of semiconductors, cars and many other products. They will soon become much broader.

Among other stocks that have been on investors’ radar, since the government deemed the rare-earth industry vital to national security, shares of United States Antimony Corp. sank 20.3% on Monday and American Resources Corp.’s stock dropped 11.2%.

The White House is considering banning exports to China of all items that were made with or contain U.S.-made software in response to China’s announcement of rare earth export controls. According to Reuters,

Share of rare earth stocks are trading lower Monday amid potential U.S.-China negotiations that could delay export controls.

China will make “substantial” purchases of US soybeans, Treasury Secretary Scott Bessent said Sunday after talks with Chinese counterparts, in a sign that the relations are thawing ahead of a possible leaders’ meeting.