On 24 April 2026, the European Union and the United States signed a Memorandum of Understanding in Washington on a strategic partnership for critical minerals, accompanied by a Joint Action Plan to strengthen the resilience of supply chains. The initiative aims to support more secure, diversified and sustainable supply chains, considered essential for strategic sectors such as energy, automotive, electronics and defence. Priorities include supporting innovative industrial projects, including in third countries, using investment de-risking tools and strengthening links between European and US companies. The Action Plan also provides for the examination of coordinated trade instruments, including markets based on common standards, offtake agreements, pricing mechanisms and stockpiling, as well as rapid response measures in the event of supply disruptions. Although not legally binding, the agreement confirms the EU and US’s commitment to strengthening transatlantic economic security and reducing strategic dependencies in a sector that is increasingly central to industrial competitiveness and the energy transition.
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