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The U.S. plans to contribute $250 million to an investment consortium that would help fund projects aimed at strengthening supply chains for energy and minerals.

The U.S., Japan and the EU are set to announce plans in the coming weeks to lay the foundation for a trade agreement in critical minerals, according to people familiar with the preparations.

The two-day visit comes as the administration seeks to defend against China’s hold on critical minerals, some of which are abundant in Venezuela.

The U.S. and Japan unveiled the debut projects of a $550 billion investment fund, pressing ahead with a trade and economic pact in the weeks before Japan’s Prime Minister Sanae Takaichi is set to meet President Donald Trump.

The Trump administration hosted 55 countries at a critical-minerals summit Feb. 4, pitching price floors and a flood of U.S. private equity in a bid to reduce dependence on China.

The European Union will pitch the U.S. on a critical minerals partnership to curb China’s influence, looking to shape the Trump administration’s push to strike global agreements this week.

The White House confirmed on Feb. 2 the start of “Project Vault,” which would initially be funded by a $10 billion loan from the U.S. Export-Import Bank and nearly $1.67 billion in private capital.

The bill would favor a market-based approach by setting up the independent body charged with building a stockpile of critical minerals, stabilizing prices and encouraging production.

President Trump has been under pressure to respond after China constrained access to rare earths crucial to advanced technologies during a trade spat last year.

China is home to more than 90% of global rare earths and permanent magnets refining capacity, compared with just 4% for second-place Malaysia, according to the International Energy Agency.