US, EU, and Japan move toward a plan to break Chinese dominance in Rare Earth Minerals

The News

On March 12, 2026, Bloomberg reported that the US, EU and Japan were working on a framework for a critical‑minerals trade agreement covering inputs for EVs, renewables and advanced electronics including key Rare Earths. The Office of the US Trade Representative (USTR) is leading talks with Brussels and Tokyo and would also lead negotiations on the eventual trade deal. The deal is supposed to include a price floor, setting a minimum price in order to support allied producers, preventing Chinese undercuts by flooding the market with cheap supplies. Other mechanisms potentially included in the framework include border‑adjusted tariffs, coordinated stockpiling, investment and regulatory cooperation, research collaboration, and common standards. The consultation period, a short, formal window where USTR asks the public and industry to comment on the proposed critical‑minerals trade agreement, closes on March 19th, with an announcement expected that day during an inaugural Washington visit by the new Japanese PM Sanae Takaichi elected last October.