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The United States is developing plans with Mexico, the European Union and Japan to implement minimum prices for critical minerals, the U.S. trade representative said Wednesday.

The Trump administration is exploring a partnership with Mexico on critical minerals as part of a scheduled review of the United States-Mexico-Canada trade agreement, or USMCA, by July 1.

The U.S. and Mexico will explore ways to implement price floors for critical mineral imports, and will discuss how to implement those minimum prices in agreements with other nations, an official in the trade representative’s office said.

The Trump administration has put critical minerals at the center of its trade and industrial policies in an effort to reduce dependence on China. Beijing dominates the global supply chain and tried to cut off exports of rare earths, a subset of the minerals that are used in everything from munitions to consumer electronics, during trade disputes with the U.S. last year.

Read more at: https://www.cnbc.com/2026/02/04/us-plans-critical-mineral-price-floors-with-mexico-eu-and-japan.html