AB to Establish Strategic Partnership with the US in Metal Supply Critique

EU Developing Partnership with the US for Critical Minerals

According to Bloomberg News, the European Union (EU) is preparing to sign a memorandum of understanding with the United States (US) to establish a 'Strategic Partnership Roadmap' within the next three months.

Goal to Reduce Dependence on China

This partnership aims to reduce dependence on China for critical minerals, which are essential for modern technologies. Both the US and the EU have become reliant on abundant and inexpensive Chinese minerals, giving Beijing a significant advantage over supply chains.

Negotiations and Projects

According to Bloomberg News, the US and the EU's executive body, the European Commission, plan to publish a draft regarding this matter, and both sides aim to conclude the negotiations within the next 30 days. The draft includes the exploration of joint critical mineral projects and price support mechanisms, as well as developing protective measures against excessive mineral supply from outside sources and other market manipulations.

Ensuring Supply Chain Security

Another important proposal in the draft is to build supply chain security between both parties. These proposals are considered a critical step for the future direction of relations between the US and EU.

Multilateral Trade Initiatives

Finally, the EU, the US, and other partners will raise the issue of exploring a multilateral trade initiative with countries that share similar views on critical minerals trade. This step will allow for the strengthening of the proposed strategic partnerships.