According to the agency, the document provides for the introduction of incentives, including minimum prices, which may give preference to suppliers outside China. The parties also plan to cooperate in the field of standards, investments, joint projects and coordination of actions in case of supply interruptions.
In addition, the EU and US want to involve other partners in the future agreement to create new supply chains for critical minerals. These resources are used in the production of modern technologies – from missile guidance systems and combat aircraft to electric vehicles.
The media notes that the relevant negotiations intensified after China last year introduced large-scale restrictions on exports, including rare earth metals, in response to tariffs by US President Donald Trump. This has led to disruptions in global supply chains and threats to European production.
According to Bloomberg, draft documents are already being considered by EU member states, but the final text of the agreement may still change.
