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US Launches Action Plan on Critical Minerals with Mexico, EU, Japan

(MENAFN) The United States on Wednesday announced an action plan with Mexico and strategic partnerships with the EU and Japan focusing on critical minerals. The plan includes initiatives such as price floors and coordinated stockpiles, according to reports.

A review of the US-Mexico-Canada trade agreement (USMCA) is scheduled by July 1, and as part of this process, the US administration is considering collaboration with Mexico on essential minerals.

Trade Representative Jamieson Greer said the partnership would "address global market distortions that have left North American critical minerals supply chains vulnerable to disruptions."

Greer described the announcement with Mexico as an "action plan" to be implemented over the next 60 days. The plan aims to create coordinated stockpiles of essential minerals and align mining, processing, and trading regulations. Coordination of investments, geological mapping, and rapid responses to supply chain disruptions are also part of the proposed strategy.

While the specific elements will be finalized later, the United States and Mexico intend to initially focus on a select number of critical minerals.

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