Mexico and the United States announced on Wednesday the enactment of a Critical Minerals Action Plan, a pioneering agreement under which both countries will coordinate trade policies and joint mechanisms to reduce vulnerabilities in the supply chain of strategic minerals in North America.
The announcement was made by U.S. Ambassador Jamieson Greer, who emphasized that the plan seeks to address global market distortions that have left market-oriented economies exposed to disruptions, economic coercion, and national security risks.
“Today’s announcement demonstrates the United States and Mexico’s shared commitment to address global market distortions that have left North American critical minerals supply chains vulnerable to disruptions,” Greer said, underscoring that the agreement takes on added importance ahead of the upcoming USMCA Joint Review.
The plan establishes an initial 60-day period for both countries to assess the feasibility of coordinated trade policies, including the exploration of border-adjusted minimum prices for critical minerals imports, beginning with a specific group of minerals to be defined by both parties.
Likewise, the United States and Mexico will consult on the possibility of incorporating these minimum prices into a binding plurilateral agreement on trade in critical minerals, along with other provisions aimed at strengthening supply chain resilience.
Measures under consideration include regulatory standards for mining, processing, and trade in critical minerals; technical and regulatory cooperation; investment promotion and screening; coordination in geological mapping; rapid responses to supply disruptions and crises; research and development of new technologies; and coordinated strategic stockpiling schemes.
The plan also contemplates the identification of specific mining, processing, and manufacturing projects for critical minerals of mutual interest in the United States, Mexico, or third countries, provided they comply with internationally recognized responsible business conduct standards. These projects may receive priority financing and policy support.
As part of efforts to increase market transparency, both governments will share information on the location of potential critical mineral deposits, based on data from official bodies such as the United States Geological Survey and the Mexican Geological Survey.
Greer thanked Mexican Minister of Economy Marcelo Ebrard for his leadership and noted that the plan represents a key step in deepening bilateral cooperation and strengthening the strategic alliance between both countries in a sector considered essential to modern industrial economies.
The Action Plan will be developed and implemented by the Office of the United States Trade Representative and Mexico’s Ministry of Economy, in accordance with their respective legal frameworks and with respect for the sovereignty of each nation.
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