US-EU-Japan Establish Critical Minerals Partnership
On Wednesday, February 4, the United States, the European Union and Japan announced the establishment of a strategic partnership aimed at improving the security of supply for critical minerals. These minerals are essential for multiple sectors including automotive, defense, and digital industries.
According to AFP, the joint statement issued after the key minerals ministerial meeting held in Washington on Wednesday stated that this move aims to significantly enhance economic and national security of relevant countries by jointly strengthening the resilience of critical minerals supply chains.
Jamieson Greer, representative of the Office of the U.S. Trade Representative (USTR), stated in the statement: "As this action plan progresses, we hope to work with like-minded countries to advance the achievement of a binding multilateral agreement on critical minerals."
The U.S. also announced that it would launch a similar action plan with Mexico, using policy tools largely similar to those previously signed with the EU and Japan.
According to the statement, the memorandum of understanding signed by the U.S., EU, and Japan aims to identify areas of cooperation to stimulate demand and achieve supply diversification. The overall goal is to reduce reliance, as these minerals are indispensable for numerous strategic industries.
In terms of specific measures, the memorandum of understanding proposes to support new mining, refining, production, and recycling projects, including through mechanisms such as setting price floors or providing subsidies. In addition, the three parties will accelerate research and development in relevant fields and strengthen information exchange on available inventories to further enhance supply chain transparency and stability.
Source: rfi
Original: toutiao.com/article/1856255176999948/
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