Mexico City, Mexico — The U.S. and Mexico are working to develop a new paradigm for preferential trade in critical minerals. In recent decades, distortions stemming from widespread non-market-oriented policies and practices have left the supply chains of critical minerals in market economies vulnerable.
Those vulnerablities are due to a wide range of disruptions, including economic coercion.
On Wednesday, Ambassador Jamieson Greer announced the start of work toward the implementation of the U.S.-Mexico Critical Minerals Action Plan.
Under this first-of-its-kind Action Plan, the United States and Mexico will work to develop coordinated trade policies and mechanisms to mitigate vulnerabilities in critical minerals supply chains.
This work will include identifying specific critical minerals of concern, analyzing adjusted minimum border prices for critical mineral imports. It will also include consulting on how such minimum prices could be incorporated into a binding plurilateral agreement on critical minerals trade.
“Today’s announcement demonstrates the shared commitment of the United States and Mexico to address global market distortions that have left North America’s critical mineral supply chains vulnerable to disruptions,” Ambassador Greer said.
“As we head into the Joint Review of the USMCA, this Action Plan represents an important step toward strengthening bilateral cooperation and increasing the resilience of supply chains with like-minded partners.
“I thank Mexico’s Secretary of Economy, Marcelo Ebrard for his leadership and commitment to strengthening collaboration on critical minerals and further deepening our strategic alliance.”
Marcelo Ebrard said addressing these vulnerabilities is imperative, as critical minerals are fundamental strategic assets for modern, innovative industrial economies, and diverse, resilient, and market-based supply chains are essential for our economic and national security.
