US, EU, and Japan Join Forces to Strengthen Critical Minerals Supply Chain Cooperation

On February 4, the United States, the European Union, and Japan held a ministerial meeting on critical minerals in Washington, announcing the establishment of a strategic partnership to enhance supply chain resilience. The three parties will focus on two key areas: First, the U.S. and the EU will sign a Memorandum of Understanding (MoU) within 30 days to advance cooperation on mining, refining, processing, and recycling projects, mitigate supply disruptions, and strengthen information sharing on research and development as well as stockpiling. Second, building upon existing international collaborations, the three countries will develop an action plan and work with like-minded partners to explore plurilateral initiatives on critical minerals trade, which could include coordinated trade policies, border pricing mechanisms, and offtake agreements. The U.S. Department of State and the Office of the U.S. Trade Representative will lead these efforts respectively. Critical minerals, such as rare earth metals, are essential raw materials for high-tech products including electric vehicles and smartphones. The three parties also plan to deepen collaboration through platforms such as the G7 and the Minerals Security Partnership (MSP).