U.S. and Japan Unite to Secure Critical Minerals

The U.S. and Japan have launched an action plan aimed at developing alternatives to China for critical minerals and rare earths supply chains. The plan includes discussions on trade policies and frameworks for pricing, as well as collaboration on mining, processing, and information sharing strategies to enhance supply chain resilience.

The United States and Japan unveiled a new strategy on Thursday aimed at reducing their reliance on China for critical minerals and rare earth supply chains, focusing initially on implementing price floors for specific minerals.

A joint announcement from the U.S. Trade Representative's Office during Japanese Prime Minister Sanae Takaichi's visit to the White House emphasized delivering tangible results to bolster supply chain resilience. While the emerging framework does not explicitly name China, it underlines the necessity to rectify market vulnerabilities caused by non-market practices.

Additionally, both countries will engage in discussions to integrate price floors and other trade measures into a broader supply agreement involving other nations, while also tackling issues of economic coercion and supporting responsible mining practices.

(With inputs from agencies.)