Welcome to our latest blog post, where we discuss the exciting news of the US and EU collaborating on critical minerals trade for a greener future. In an effort to reduce carbon emissions and build a more sustainable economy, both regions have come together to secure access to essential raw materials used in green technologies such as electric vehicles, wind turbines, and solar panels. This new partnership marks a significant step forward in achieving global climate goals while also fostering economic growth and innovation across borders. Join us as we dive deeper into this game-changing collaboration that’s sure to make waves in the renewable energy industry!

What are critical minerals?

There is a growing need for critical minerals in the United States and Europe as the demand for clean energy technologies increases. Critical minerals are defined as those that are essential to the economic and national security of the US and EU, and are used in a wide range of industries, including renewable energy, defense, and manufacturing.

The US and EU have been working together to secure supplies of critical minerals and ensure that they are traded fairly. In September 2020, the US Department of Commerce released a list of 35 critical minerals that are essential to the US economy and national security. The EU is currently working on its own list of critical minerals, which is expected to be released in 2021.

Both the US and EU have expressed interest in collaborating on critical minerals trade in order to secure supplies and promote sustainable development. In October 2020, the US-EU Critical Minerals dialogue was launched with the goal of promoting cooperation on issues related to critical mineral supply chains. The first meeting was held in Brussels in December 2020.

US and EU trade in critical minerals

The United States and European Union have agreed to collaborate on trade in critical minerals in an effort to reduce their reliance on China. The two economies are the largest users of rare earth metals, which are used in a wide range of industries from renewable energy to defense.

Both the US and EU have been seeking to diversify their sources of rare earths and other critical minerals in recent years, as China currently dominates the market. This has been driven in part by concerns over Beijing’s use of its dominance as a bargaining chip in trade negotiations.

Under the new agreement, the US and EU will work together to identify opportunities for joint procurement of critical minerals, as well as ways to boost production outside of China. The move is seen as a way to increase the leverage of both economies in future trade talks with Beijing.

Collaboration for a greener future

In order to meet the challenges of climate change, the United States and European Union have agreed to collaborate on critical minerals trade. The two sides will work together to ensure a secure and sustainable supply of minerals, including rare earth metals, for industries that are vital to the transition to a low-carbon economy.

This collaboration is an important step in ensuring that the global economy can make the shift to cleaner energy sources. While renewable energy is crucial for fighting climate change, many clean technologies rely on rare earth metals and other minerals that are not currently being produced in sufficient quantities. By working together, the US and EU can help ensure that these critical materials are available when they’re needed.

The collaboration will also help reduce environmental impact by promoting responsible mining practices. Together, the US and EU can set standards for miners around the world, encouraging them to adopt cleaner methods that don’t damage local ecosystems. This will help protect both people and nature as we work towards a greener future.

Conclusion

The US and EU have taken an important step towards a greener future by agreeing to collaborate on critical minerals trade. Through this collaboration, the two superpowers will be able to access resources that are not locally available or economically feasible in their individual countries, while also ensuring that environmental sustainability is at the forefront of their strategies. By collaborating with each other instead of competing, these two major economies can lead the way towards a sustainable global economy that works for everyone.