By Andrea Shalal WASHINGTON, April 24 (Reuters) – The United States and European Union on Friday released an action plan to coordinate trade policies and measures on critical minerals supply chains, with a view to concluding a binding plurilateral agreement at a future date. The plan does not specifically mention China but comes as part […]
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US, EU announce action plan to coordinate trade policies on critical minerals
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By Andrea Shalal
WASHINGTON, April 24 (Reuters) – The United States and European Union on Friday released an action plan to coordinate trade policies and measures on critical minerals supply chains, with a view to concluding a binding plurilateral agreement at a future date.
The plan does not specifically mention China but comes as part of a broader push by the Trump administration to work with Western allies to loosen China’s grip on materials crucial to advanced manufacturing.
China has used its chokehold on the processing of many minerals as geo-economic leverage, at times curbing exports, suppressing prices and undercutting other countries’ ability to diversify sources of the materials used to make semiconductors, electric vehicles and advanced weapons.
U.S. Trade Representative Jamieson Greer, who is slated to meet later on Friday with EU Commissioner Maros Sefcovic, said the U.S. and EU shared a commitment to “addressing the non-market policies and practices that have distorted critical minerals supply chains.”
He said Washington and Brussels would explore how trade measures, such as border-adjusted price floors, could strengthen domestic critical minerals industries and downstream sectors critical to industrial competitiveness.
(Reporting by Andrea Shalal)