EU To Offer U.S. Mineral Partnership To Tackle China

The EU is ready to sign a memorandum of strategic cooperation with Washington.

The European Union intends to offer the US a partnership in the field of critical minerals. Such a move is aimed at limiting China's influence.

The Bloomberg citing its sources writes that the EU is ready to sign a memorandum of understanding with the U.S. to develop a "Strategic Partnership Roadmap" within three months.

The goal of the partnership is to jointly find ways to obtain critical minerals needed for most modern technologies without depending on China. Both the US and the EU have become dependent on cheap Chinese minerals, giving Beijing leverage over them.

The memorandum suggests the EU and US explore joint projects on important minerals and price support mechanisms. It also recommends ways to guard against oversupply of minerals from other countries and other forms of market manipulation. Meanwhile, the proposal states that both sides should build reliable supply chains.

It is noteworthy that the EU proposal also demands that they respect each other's territorial integrity, the sources added. US-EU relations have faced serious problems after President Donald Trump announced his desire to buy Greenland.

Sources named the main points of the proposal that the EU has prepared:

cooperation to secure supply chains and reduce dependency, including by developing premium international markets and joint efforts to counter any disruptions;

deepening industrial and economic integration, including through joint projects;

mutual exemption from exemptions from ex Disruption prevention measures may include stockpiling or an EU-US response team;

cooperation on export restrictions applicable to third countries.

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