April 24, 2026, 7:10 p.mApril 24, 2026, 7:10 p.m
The USA and the EU want to work together in their efforts to achieve a more independent supply of rare earths and other important minerals. US Secretary of State Marco Rubio and EU Trade Commissioner Maros Sefcovic signed a memorandum of understanding in Washington on a strategic partnership on critical minerals.
According to official information, the USA and the EU want to work together on, among other things, extraction, processing and recycling.
“The overconcentration of these resources, the fact that they are dominated by one or two places, is an unacceptable risk,” Rubio said. You need diversity in the supply chains and the places from which critical minerals are sourced. Sefcovic emphasized that the “real test now lies in the implementation of this project”.
Getting away from China
With efforts to create a new trade alliance for critical raw materials, Brussels and Washington want to reduce their dependence on Beijing. The refining of metals known as rare earths is largely controlled by China.
They are essential, among other things, for the electronics industry and the production of electric cars and magnets. Raw materials of critical importance include lithium and cobalt.
US Vice President JD Vance said at the beginning of February that the trade alliance should use tariffs and price floors to prevent Beijing from flooding the markets with raw materials at dumping prices and thus undercutting competitors. The “trade bloc” should strengthen the US economy and at the same time expand production throughout the alliance area. (sda/awp/dpa)