The US, Japan, and Europe plan to promote a trade agreement on key mineral resources or establish a price floor mechanism.

According to informed sources, the United States, Japan, and the European Union plan to announce relevant plans in the coming weeks to lay the foundation for a key mineral trade agreement. The sources stated that the Office of the United States Trade Representative (USTR) has been leading negotiations with the European Union and Japan on the framework and will continue to lead the discussions on this trade agreement. The agreement aims to establish price floors and tariffs for key materials to counter any market behavior from China. According to a report from February this year, the United States has developed a mechanism for setting price floors for key minerals and is now promoting it to allies. Currently, the Trump administration and over 50 countries are seeking to reduce their dependence on Asian resources, as these resources are considered crucial for national security. For a long time, industry insiders have considered setting price floors for key minerals to protect non-Chinese companies from the impact of "dumping markets," as such behavior can lower profits for Western companies.