U.S., EU, and Japan Advance Critical Minerals Trade Agreement with Price Floor Initiative
The U.S., EU, and Japan are preparing to announce a critical minerals trade agreement framework, including price floors and tariffs, aimed at reducing reliance on Chinese supplies. Negotiations, led by the U.S. Trade Representative, will begin in April following a stakeholder consultation period ending March 19. The initiative follows China's export controls on critical minerals and seeks to stabilize supply chains for critical technologies. Mexico has already signed a similar action plan with the U.S.
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The U.S., EU, and Japan are moving toward a coordinated critical minerals trade framework, including price floors and tariffs, to address China's market influence. The U.S. Trade Representative will initiate negotiations in April after a consultation period concludes on March 19.
This action follows China's export restrictions on critical minerals which intensified last year. The framework aims to support domestic producers and mitigate reliance on Chinese supplies. A preliminary action plan has already been signed with Mexico, and discussions may expand to other nations and minerals. The G7 summit will address these supply chain strategies.
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