The U.S. administration has announced a plan to work with the European Union, Japan, and Mexico regarding critical minerals. It is a part of a broader effort to reduce reliance on China while aligning trade policies, stabilizing prices, and steering investments into secure supply chains.

"Today's announcement is an important signal that the world's largest market-oriented economies are committed to developing a new paradigm for preferential trade in critical minerals," said U.S. Trade Representative Jamieson Greer.

"Through the development of these Action Plans, we will lay the groundwork for a binding plurilateral agreement on trade in critical minerals with like-minded partners," he added.

The administration plans to achieve this through coordinated trade measures, including mechanisms such as border-adjusted price floors. The goals include protection from volatile markets and undercutting by subsidized Chinese production.

Sprott Critical Materials ETF