The United States and European Union have agreed to deepen cooperation on critical minerals, a key component of supply chains for semiconductors, electric vehicles and defence systems.
US Secretary of State Marco Rubio and EU Trade Commissioner Maroš Šefčovič signed a memorandum of understanding aimed at strengthening production, trade coordination and supply resilience. The move reflects growing concern among Western economies over concentrated mineral processing and supply vulnerabilities.
Rubio highlighted risks linked to over-dependence on limited sources, while US Trade Representative Jamieson Greer outlined plans to align trade policies and address market distortions affecting critical minerals.
Key developments:
- Joint US–EU action plan to coordinate trade and industrial policy
- Exploration of mechanisms such as border-adjusted price floors
- Focus on supply chain resilience and diversification
- Potential expansion to a wider plurilateral minerals partnership
Šefčovič emphasised implementation, calling for “concrete, tangible projects” to support industry and reinforce transatlantic cooperation.
ℹ️ Reuters
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