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The United States announced plans for a critical minerals partnership with the European Union and Japan during the Critical Minerals Ministerial gathering in Washington on February 4, 2026, to increase their economic and national security by jointly enhancing resilience in critical minerals supply chains.

U.S., EU, and Japan aim to develop “coordinated trade policies and mechanisms, such as border-adjusted price floors, that can mitigate critical mineral supply chain vulnerabilities”, according to the US Trade Representative’s office.

Within the next 30 days, the EU and the two nations are expected to sign a memorandum of understanding to enhance the security of their critical minerals supply chains. The planned partnership will “identify areas of cooperation to stimulate demand and diversify supply for both participants by identifying and supporting projects in mining, refining, processing, and recycling”, according to the press statement.

More than 50 ministers from allied nations joined the first Critical Minerals Ministerial, hosted by the U.S. State Department in Washington on February 5, 2026, to strengthen cooperation among partners and ensure reliable access to materials essential for advanced industries.

The summit was attended by representatives from the United Kingdom, European Union, Japan, India, South Korea, Australia, and the Democratic Republic of Congo, among others.

The development comes amid growing demand for critical minerals that are key to the production of goods such as smartphones, semiconductors, electric vehicle batteries, telecommunications infrastructure, weapons systems, and other high-tech manufacturing. The global market is estimated to be valued at more than $350 billion today and is projected to grow to between $600 to 700 billion by 2030.

China currently dominates global mining and processing of many critical minerals, including rare earth elements, and has tightened export controls in recent months.

While U.S. officials avoided naming China directly during opening remarks, the initiative is widely viewed as part of a broader strategy to reduce vulnerability to supply disruptions and price manipulation.

U.S. Vice President JD Vance said Washington is proposing the creation of a “preferential trade zone for critical minerals” among participating countries. The framework would establish reference prices and use adjustable tariffs to prevent market flooding that can drive prices down and discourage investment in new mining and processing projects.

“We all face the same vulnerability: access to the things that protect our people and sustain our way of life,” Vance said, noting that supply chains for key materials can “vanish in the blink of an eye” due to market distortions or geopolitical pressure.

He argued that volatile prices have repeatedly derailed mining projects across advanced and developing economies alike, as sudden surges of foreign supply collapse prices and cause investors to withdraw financing. The proposed trade zone would aim to stabilize prices, encourage long-term investment, and create what he described as an “ironclad network” of diversified supply chains among partner countries.

The U.S. also plans to deploy tariffs where necessary to maintain price floors and ensure predictable investment conditions within the bloc. Officials said membership would offer participating nations more secure access to critical minerals during emergencies while encouraging new production across allied markets.

Large-scale investment and stockpiling plans

The initiative comes alongside a sweeping push by the Trump administration to rebuild domestic and allied mining capacity. According to senior officials, Washington intends to mobilize hundreds of billions of dollars in public and private capital for mining and processing projects.

David Copley, a special assistant to the president and senior director for global supply chains, said the U.S. government is prepared to deploy “hundreds of billions of capital into the mining sector to get projects going,” including equity investments and financing for companies such as MP Materials and Lithium Americas.

On Monday, President Donald Trump announced the creation of a nearly $12 billion domestic stockpile known as “Project Vault,” designed to secure reserves of critical minerals for national security and industrial needs. The administration has also provided up to $100 billion in lending authority for critical minerals projects.

Yesterday, @SecRubio hosted the Critical Minerals Ministerial, uniting partners from around the world to sign new frameworks and launch the new Forum on Resource Geostrategic Engagement (FORGE) Initiative.

This landmark partnership is a major step toward diversifying and… pic.twitter.com/38ePI2XLMe

— State Department Economic Affairs (@EconAtState) February 5, 2026

Secretary of State Marco Rubio described supply chain diversification as a top priority for the administration and for partner countries, emphasizing that critical minerals underpin everyday technology as well as national defense systems. “Economic security is national security,” Rubio said, adding that the goal is to build a global market that is secure, resilient, and accessible to all participating nations.

Secretary Rubio announced the creation of the Forum on Resource Geostrategic Engagement (FORGE) as the successor to the Minerals Security Partnership. FORGE, which will be chaired by the Republic of Korea through June, will advance initiatives that strengthen diversified, resilient, and secure critical minerals supply chains.

Coordination with Allies and Partners

U.S. Trade Representative Jamieson Greer said Washington is working with Japan and the European Commission to develop coordinated trade policies and mechanisms that would help participating countries avoid supply disruptions and reduce reliance on single-source imports.

Japanese State Minister for Foreign Affairs Iwao Horii welcomed the U.S. initiative and stressed the need for diversification across all stages of the supply chain, from mining and refining to manufacturing. He said Japan has designated critical minerals as a priority area for strategic investment and is expanding cooperation with partners worldwide.

Delegates discussed launching new coordination platforms and joint investment frameworks to support projects in resource-rich developing economies while ensuring stable supplies for major industrial consumers. Officials said countries with mineral deposits, processing capacity, or manufacturing demand all have roles to play in building a more resilient global system.

Context of Rising Geopolitical Competition

The ministerial took place amid ongoing trade tensions and supply chain competition between Washington and Beijing. China controls a large share of global rare earth production and processing and has required companies to obtain government approval before exporting certain materials.

Tighter export curbs introduced last year disrupted supply to U.S. industries heavily dependent on imported minerals, though some restrictions were later eased.

Analysts say Beijing has used its dominance in the sector as leverage in trade negotiations, underscoring the strategic importance of diversifying supply sources. A Chinese foreign ministry spokesperson, ahead of the meeting, urged countries to follow market economy principles and strengthen dialogue.

President Donald J. Trump completes an excellent telephone conversation with President Xi of China on trade, military, and more: pic.twitter.com/y1j7FP1OLx

— The White House (@WhiteHouse) February 4, 2026

The gathering in Washington occurred on the same day Trump held what he described as a “very positive” phone call with Chinese President Xi Jinping, highlighting the complex balance between competition and engagement in global supply chains.

Industry and strategic implications

Industry figures have broadly welcomed the U.S. push to strengthen domestic and allied supply chains. Wade Senti, president of Advanced Magnet Lab, said it was “critical to see the United States take decisive steps to shore up our supply of all kinds of minerals and rare earths.”

Demand for critical minerals is expected to surge as artificial intelligence infrastructure, electric vehicles, renewable energy systems, and advanced weapons technologies expand worldwide. U.S. officials said allied economies represented at the ministerial account for roughly two-thirds of global GDP, giving them significant leverage to reshape the market if they coordinate policies.

Officials framed the initiative as analogous to past efforts to coordinate global energy policy during periods of supply concentration. The goal, they said, is to build a diversified and resilient network that ensures stable access to essential materials without overreliance on any single supplier.

While details of the proposed trade zone and agreements are still being negotiated, Washington is urging partners to join quickly and finalize arrangements that could reshape the global critical minerals market. The administration argues that coordinated action now will determine whether allied economies can secure long-term access to the materials needed for industrial growth, technological leadership, and national security.