24 April 2026 12:55 UTC · European Commission · EU Commission Press Release · Source · Email X Link

European Commission signs MoU with U.S. on critical minerals

Key points

Signed MoU with the U.S. on critical minerals
Announced EU steel import measures and cooperation with the U.S.

TL;DR

Commissioner Šefčovič signed a Memorandum of Understanding with Secretary Marco Rubio to formalise EU‑US cooperation across the entire critical minerals value chain.
An Action Plan for Critical Minerals Supply Chain Resilience may lead to a plurilateral trade initiative with tools such as border‑adjusted price floors, standards‑based markets, price gap subsidies and offtake agreements.
The EU will apply steel import measures (47% cut in tariff-free imports, 50% tariff above quotas, melt‑and‑pour origin rule) and seek US cooperation on steel ringfencing and technical alignment.

Original text

European Commission - Speech [Check Against Delivery] Remarks by Commissioner Šefčovič at the press conference following the signing of a Memorandum of Understanding with the U.S. on critical minerals Washington, DC, 24 April 2026 Good afternoon. I am glad to be back in Washington. With so much happening, it was the right moment to be here in person – even with our constant contact. I am here especially to jump-start the EU-US strategic partnership on critical minerals. This morning, I had the pleasure of signing a Memorandum of Understanding with Secretary Marco Rubio. This MoU formalises our partnership across the entire value chain – from exploration and extraction to processing, refining, recycling and recovery. It also deepens cooperation on innovation, investment, geological mapping and both supply- and demand-side solutions. Shortly, I will meet Ambassador Jamieson Greer to conclude an Action Plan for Critical Minerals Supply Chain Resilience, which paves the way towards a possible plurilateral trade initiative with like- minded partners. This could include tools such as border-adjusted price floors, standards-based markets, price gap subsidies and offtake agreements. We will also focus on: common standards for mining, processing and recycling on promoting investment on joint research and innovation as well as on stockpiling strategies and on mechanisms for rapid response to supply disruptions. So, the direction is clear. Now comes the real test – execution, by turning shared ambition into concrete, high-impact projects. That is what will define our success. Critical minerals are at the core of every industry shaping the future. With Secretary Howard Lutnick, we discussed a practical way forward: First, to map the tools we already have to support projects. Second, to identify how best to deploy those tools – ideally together, for instance through co- investing – for greater impact. All in all, this is tangible proof that we are delivering on last year's EU-US agreement, which I have always seen as a launchpad for positive cooperation going forward. In the same spirit, we discussed steel, as the shape and global standing of the steel sector is central to our overall industrial strength. I updated the U.S. administration on the latest EU measure to defend our industry from global overcapacity, now reaching critical levels and projected to hit 721 million tonnes next year – more than five times the EU's annual steel consumption. As of July, we will apply 47-percent cut in tariff-free imports, alongside a 50-percent tariff on volumes exceeding the newly established quotas. In addition, we will apply a melt-and-pour principle to define the origin of steel and avoid circumvention. As a next step, we want to launch work with the U.S. on steel ringfencing, aligning our approaches towards third countries. With Secretary Lutnick, we agreed to accelerate this work at technical level. I also welcome that immediately after our meeting, the teams began detailed technical discussions on steel derivatives. While the latest US decision has improved the situation for several sectors, some issues remain – and I appreciate the administration's genuine engagement in resolving them. More broadly, across all my meetings – with the administration and on Capitol Hill – I heard a genuine interest in implementing the EU-US deal and in cooperating further to strengthen both our economies. The EU is doing its part. I highlighted particularly 250 billion dollars in energy purchases as well as nearly 290 billion dollars in EU investments in the U.S. last year – both impressive figures. With Secretary Bessent, we discussed our cooperation on economic security and in particular, ways to jointly strengthen our supply chains and reduce existing external dependencies. I am now looking forward to my discussion with Ambassador Greer so that we can continue advancing – whether in leaps or steps – but always moving forward. Thank you. SPEECH/26/886

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