EU-US, agreement on critical minerals/ Coordination in the supply of key industries, including defense
The European Union and the United States signed an agreement to coordinate the supply of critical minerals needed for key industries, including defense. US Secretary of State Marco Rubio and EU Trade Commissioner Maroš Šefčovič signed a Memorandum of Understanding (MoU) on a Strategic Partnership on Critical Minerals in the Treaty Room of the State Department in Washington.
Rubio stated before the signing that the awareness and commitment to the European Union demonstrates "the importance of supply chains and critical minerals to the success of our economies and to our national security." Rubio stressed that the excessive concentration of these resources, and the fact that one or two countries dominate them, is an unacceptable risk.
"We need diversity in our supply chains. Diversity in places where they are critical in the world," Rubio added.
Šefčovič stressed the importance of the agreement, saying: "I believe that together we will be even more strategic. We will achieve our goals much faster than before. And we will, of course, become stronger together in this very important area."
Showing its strength in times of tension, Beijing has restricted exports of critical minerals needed for products including semiconductors, electric vehicle batteries and weapons systems.
The Trump administration has previously called for a preferential trade zone among allies for critical minerals. Washington has also unveiled critical minerals action plans with Mexico and Japan, along with a supply framework with Australia and others.
The EU is also seeking more progress in easing the effects of US steel tariffs, Šefčovič said, adding that the talks are "going in a positive direction".
The bloc wants to align approaches with the United States towards third countries when it comes to steel trade, he added.
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