US, EU sign memorandum on critical minerals to boost supply chain security

The US and the EU on Friday signed a memorandum of understanding on critical minerals, marking what US Secretary of State Marco Rubio described as a “very important gathering” to strengthen economic and security cooperation.

Speaking at the signing ceremony, Rubio said the agreement is aimed at ensuring “reliable, affordable sources” of critical minerals.

“Obviously, this shows growing awareness and commitment throughout the world, particularly with our allies in the West in Europe, the importance of supply chains and critical minerals to the success of our economy and to our national security,” Rubio said, warning that reliance on resources “dominated by one or two places is a non-acceptable risk,” and stressing the need to diversify.

European Commissioner for Trade Maros Sefcovic said the memorandum would deepen transatlantic ties and accelerate shared objectives.

“With this memorandum, I believe we will be more strategic together and achieve our goals much faster,” Sefcovic said, emphasizing the need to translate the agreement into “concrete, tangible” projects for businesses.