NEWS FROM THE INDUSTRY

SIGNED AN AGREEMENT ON MINERALS USED IN BATTERY TECHNOLOGIES BETWEEN THE USA AND JAPAN

U.S. trade officials announced late on Monday, March 27, that the United States and Japan have reached an agreement on the trade of minerals necessary for electric vehicle batteries dominated by China. Minerals such as rare earth elements and lithium are becoming increasingly crucial in clean energy technologies. However, the U.S. is preparing to face gaps in critical mineral supplies when it comes to meeting the expected demand for electric vehicles.

01 September 2023

In a statement by the U.S. Trade Representative (USTR), the latest U.S.-Japan agreement was noted to include commitments to refrain from imposing export taxes on critical minerals sent to the other country. USTR stated, "The United States and Japan share a common interest in strengthening supply chains among like-minded partners and enhancing resilience against threats such as economic coercion." Ambassador Katherine Tai mentioned that the agreement is a positive start, as Washington continues to collaborate with allies and partners to strengthen supply chains through initiatives like the Infrastructure Investment and Jobs Act (IRA), aimed at reducing inflation.

SEE ALL