EU prepares rare earth MoU with Trump administration to curb reliance on China

The European Union is preparing to sign a memorandum of understanding with the Trump administration on a joint rare earth and critical minerals framework aimed at reducing dependence on China. The draft plan outlines a Strategic Partnership Roadmap within three months, including shared supply chains, coordinated pricing tools, stockpiles, and joint mining and refining projects between the US and Europe. It also proposes exclusive trade routes, a common pricing system to counter undercutting, and no export bans between both sides on key minerals.