The EU and the US are discussing an agreement to reduce dependence on Chinese minerals
The European Union and the United States are close to reaching an agreement on coordinating the extraction and supply of critical minerals to reduce reliance on Chinese supplies. According to Bloomberg, the draft joint action plan provides for significant economic incentives for suppliers outside of China.
According to the draft, Washington and Brussels not only plan to create competition for Chinese companies but also to synchronize technological standards, attract investments in joint projects, and develop a mechanism for coordinated response to potential supply disruptions. Currently, the document is undergoing review by EU member states.
The talks have intensified due to China’s export restrictions on strategic materials, implemented in response to Donald Trump’s tariff policy. This has caused serious problems in global supply chains and threatened to halt many European high-tech enterprises.
Additionally, Chinese exports to the US decreased by 34.5% compared to the previous year, marking the largest decline since the COVID-19 pandemic. This has prompted Western countries to accelerate negotiations to diversify the supply chain.
| Country | Export changes (%) |
|---|---|
| China to the US | -34.5% |
| Chinese rare earth exports | +80% |
