The Trump administration is expected to unveil its grandest plan yet to rebuild supply chains of critical minerals needed for everything from jet engines to smartphones, likely through purchase agreements with partners on top of creating a $12 billion U.S. strategic reserve to help counter China's dominance.

Vice President JD Vance is set to deliver a keynote address Wednesday at a meeting that Secretary of State Marco Rubio is hosting with officials from several dozen European, Asian and African nations. The U.S. is expected to sign deals on supply chain logistics, though details have not yet been revealed. Rubio met Tuesday with foreign ministers from South Korea and India to discuss critical minerals mining and processing.

Markets are mostly higher before the opening bell Tuesday as more corporate earnings arrive and lofty precious metals recover from recent sell-offs.

Global shares surged, led by a nearly 7% jump in South Korea's benchmark and a 3.9% rally in Tokyo that took the Nikkei 225 to a record as investors bought tech-related shares.

Bullied and buffeted by President Donald Trump's tariffs for the past year, America's longstanding allies are desperately seeking ways to shield themselves from the president's impulsive wrath.

U.S. trade partners are cutting deals among themselves —- sometimes discarding old differences to do so — in a push to diversify their economies away from a newly protectionist United States. Central banks and global investors are dumping dollars and buying gold. Together, their actions could diminish U.S. influence and mean higher interest rates and prices for Americans already angry about the high cost of living.

Prime Minister Nawaf Salam met Tuesday with Jordan's Prime Minister Jaafar Hassan, on the sidelines of his participation in the World Governments Summit in Dubai.

Hassan proposed an initiative to hold a tripartite Syrian–Lebanese–Jordanian meeting in Amman, to discuss energy and electricity files, Lebanon's National news Agency said.

The Kremlin said Tuesday it had not received any indication from India that it would stop buying Russian oil following the announcement of a trade deal with U.S. President Donald Trump.

"So far, we haven't heard any statements from New Delhi on this matter," Kremlin spokesman Dmitry Peskov told reporters, including AFP, a day after Trump said Indian Prime Minister Narendra Modi had promised he would stop buying Russian oil as part of a deal to ease tariffs.

U.S. President Donald Trump said Monday that Mexico would stop sending oil to Cuba, which is already struggling after supplies from its traditional provider Venezuela dried up following the fall of Nicolas Maduro.

"It's a failed nation. Mexico is going to cease sending them oil," Trump told reporters in the Oval Office when asked about Cuba.

China has been flooding Latin American markets with low-priced exports, especially autos and e-commerce goods, as its exporters adjust to U.S. President Donald Trump's tariffs and geopolitical moves.

The world's second-largest economy has become a major trading partner for many Latin American nations, seeking access to their abundant natural resources and growing markets while expanding its influence in a region Trump views as America's Backyard.

Japan said Monday it has successfully drilled and retrieved deep-sea sediment containing rare earth minerals from the seabed near a remote island, as the country seeks to reduce its reliance on China.

The deep-sea drilling vessel Chikyu's successful gathered the sediment at a depth of nearly 6,000 kilometers near the island of Minamitorishima, Prime Minister Sanae Takaichi said in a statement on X.

Equities, oil and precious metals plunged Monday to extend the volatility that struck markets at the end of last week, with concerns about elevated tech valuations once again casting a shadow.

Investors resumed Friday's rollercoaster ride as they assessed geopolitical developments, the latest batch of company earnings and the outlook for U.S. interest rates.

Gold and silver prices dived Friday and European stock markets ended the week up while Wall Street pulled back with investors reassured by U.S. President Donald Trump's pick to take over as head of the Federal Reserve.