EU and US deepen critical minerals cooperation
The EU-US Action Plan will explore a broad range of trade policies and instruments.
The MoU, signed by Maros Šefčovič, EU Commissioner for Trade and Economic Security, and US Secretary of State Marco Rubio, formalises a strategic partnership to build secure and sustainable critical minerals supply chains.
It sets out bilateral cooperation across the full value chain of exploration, extraction, processing, refining, recycling and recovery, while supporting innovation, investment and geological mapping, as well as supply- and demand-side measures.
The Action Plan created by Commissioner Šefčovič and US Trade Representative Jamieson Greer paves the way towards a possible plurilateral trade initiative with global partners.
The EU and US intend to work together to explore a broad range of trade policies and instruments to reinforce coordinated international action. These may include border-adjusted price floors, standards-based markets, price gap subsidies and offtake agreements.
Cooperation is expected to focus on development of common standards for mining, processing and recycling, promotion of investment, joint research and innovation, stockpiling strategies, and mechanisms for rapid response to supply disruptions.
The agreements are a key step in enhancing resilience and diversification of supply chains amid shared geopolitical and economic challenges. They follow up on shared commitments decided at the Critical Minerals Ministerial meeting, alongside Japan, held in February earlier this year.
Both sides also plan to continue working on critical minerals resilience in relevant international fora, including the G7 and the Forum on Resource Geostrategic Engagement (FORGE).
