The European Union is initiating the establishment of a strategic partnership with the United States to strengthen control over the supply of critical minerals and reduce China’s influence in this market.
This is reported by Finway
New Roadmap for Cooperation
According to sources, the EU is ready to sign a memorandum of understanding with the US within the next three months. The document outlines the development of a joint “roadmap for strategic partnership” aimed at finding optimal ways to ensure stable supplies of minerals necessary for the development of modern technologies, without dependence on Chinese exports.
The US and EU countries are currently largely dependent on imports of cheap minerals from China. This gives Beijing additional leverage over global supply chains, which concerns both parties.
Mechanisms to Reduce Dependence and New Agreements
The draft memorandum proposes exploring options for implementing joint projects in the extraction and supply of critical minerals, as well as introducing price support mechanisms. The document recommends developing measures to protect markets from an excess of imported minerals and other forms of market manipulation. Special attention is given to building reliable supply chains between the EU and the US.
The EU’s proposal also includes mutual relief from export restrictions on critical minerals and coordination of export policies regarding third countries.
“The memorandum suggests that the EU and the US explore the possibility of implementing joint projects in the field of critical minerals, as well as price support mechanisms. The document also recommends developing measures to protect markets from an excess of external mineral supplies and other forms of market manipulation. Furthermore, it proposes building reliable supply chains between the parties.”
It is expected that negotiations between the parties will be completed within the next 30 days, and an official statement is planned to be released on February 4.
It is worth noting that the EU’s proposal separately emphasizes the importance of mutual respect for territorial integrity. This has become particularly relevant following the recent escalation in relations between the US and the EU, which arose in the wake of President Donald Trump’s statements regarding a possible purchase of Greenland—a territory belonging to Denmark, an EU member state.
The new initiatives of the European Union have emerged ahead of a major meeting between the US and representatives of dozens of allied countries, scheduled for February 4. The aim of this meeting is to develop joint solutions to reduce dependence on Chinese critical minerals.