Overview
- Bloomberg reporting says the sides are close to a non‑binding action plan, and the European Commission and the U.S. Trade Representative did not provide comment.
- The proposal includes minimum price guarantees, which act as price floors to help allied miners and refiners compete with cheaper Chinese supply.
- It calls for common standards, joint investments and projects, and coordinated responses if a government restricts exports or disrupts supplies.
- The scope spans the full life cycle of critical minerals, covering exploration, extraction, processing, refining, recycling, and recovery.
- China controls about 60% of rare earth production and roughly 90% of refining capacity, a dominance this plan aims to counter as new projects take years to build.