The U.S. government announced on the 4th that a Critical Minerals Ministerial Meeting, hosted by U.S. Secretary of State Marco Rubio, was held the same day in Washington, D.C. A total of 55 countries participated, including Japan and the European Union (EU). Japan was represented by State Minister for Foreign Affairs Iwao Horii. In his opening remarks, Secretary Rubio commented, “Ensuring a global supply of critical minerals that all countries can access at affordable prices is this administration’s top priority.”
Japan, the United States, and the EU will jointly formulate an action plan to strengthen critical minerals supply chains. The three parties will mutually support projects involving the mining, refining, processing, and recycling of critical minerals, and will cooperate to diversify supply sources. The plan also includes consideration of minimum prices in multilateral trade. The United States and the EU are expected to conclude a memorandum of understanding within the next 30 days.
