EU, US, and Japan Sign Agreement on Critical Minerals

The European Union, the United States, and Japan have signed a significant agreement aimed at improving the resilience of critical mineral supply chains. The agreement seeks to reduce dependence on China, which dominates the global market for these minerals.

Critical minerals are essential for many sectors, including the automotive industry, defense, and digital technology. The agreement focuses on cooperation in the areas of mining, processing, production, and recycling of rare earth elements, as well as accelerating research and development.

The White House Trade Representative (USTR), Jamieson Greer, stated that the agreement will lay the foundation for a binding, multilateral agreement on critical minerals with countries with similar ideologies. Simultaneously, the US announced a similar action plan with Mexico.

Ursula von der Leyen welcomed the agreement, emphasizing that Europe, Japan, and the US will work together to build strong and diversified supply chains.