The EU and the US are negotiating an agreement to combat China's control over critical minerals.

The European Union and the United States are on track to finalize an agreement aimed at coordinating efforts in the production and securing of critical minerals, according to a Bloomberg report cited by Reuters. The agreement could include incentives such as minimum price guarantees to support non-Chinese suppliers, according to sources. Additionally, the EU and the US will collaborate in the areas of standards, investments, and joint projects, intensifying coordination in the face of supply disruptions caused by countries like China. The European Commission declined to comment on the information, and the Office of the United States Trade Representative did not respond to requests for comments. European Commissioner for Trade, Maros Sefcovic, mentioned a "very positive" meeting with the American Trade Representative, Jamieson Greer, in which it was agreed to advance work on critical minerals. The agreement would cover the entire value chain of critical minerals, from exploration and extraction to recycling. The United States is intensifying efforts to gain access to critical mineral reserves, especially in the context of export restrictions imposed by China.