US-Japan Critical Minerals Supply Chain Action Plan

The United States and Japan have launched an action plan to develop alternative supply chains for critical minerals and rare earths, aiming to reduce their dependence on China. This initiative includes discussions on coordinated trade policies, such as border-adjusted price floor mechanisms for select minerals, and a framework agreement on rare earths previously signed by Donald Trump and Sanae Takaichi. The plan also involves identifying and supporting specific mining, processing, and manufacturing projects that adhere to responsible business practices. Both nations will share information on mining standards, technical cooperation, and geological mapping, and coordinate stockpiling and responses to supply disruptions. Companies like Albemarle Corporation are exploring investment opportunities with Japan, while Mitsubishi Materials is in talks for a potential equity stake or joint venture with ReElement Technologies, signaling a shift towards more diversified and resilient supply networks.