US, EU Are Set to Miss Critical Minerals Agreement This Week – by Alberto Nardelli, Jorge Valero and Eric Martin (Bloomberg News/ – April 3, 2024)

(Bloomberg) — A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another target this week, according to people familiar with the discussions.

The final draft statement for a high-level trade and technology meeting in Leuven, Belgium, on Thursday falls short of a deal, instead it says the transatlantic allies “are advancing negotiations toward a critical minerals agreement,” according to a document seen by Bloomberg. An earlier version of the statement left open the door to an “agreement in principle.”

The US and EU are still hoping to reach an agreement later this year before elections on both sides of the Atlantic, said the people, who spoke on the condition of anonymity.

The two allies have been trying to conclude an agreement for many months now but have repeatedly failed to do so. The EU has previously said that’s because the US insists on more onerous terms than those it demanded of Japan for a similar arrangement, including on issues such as reviewing labor rights across supply chains.

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