The United States and Mexico on Wednesday launched a 60-day effort to align trade policies for critical minerals, including potential price floors on certain imports, as Washington intensifies supply chain defenses.
Officials said earlier this month that the plan aims to reduce North America’s reliance on fragile global supply networks. Additionally, the framework opens talks on embedding price floors in a binding plurilateral trade agreement. The proposal did not reference China directly, despite its dominant role in mineral processing.
U.S. Trade Representative Jamieson Greer said both countries want to address global market distortions. He argued that distorted pricing and concentration have weakened regional supply chains. Furthermore, he described critical minerals as strategic assets vital to advanced manufacturing and national security.
Vice President JD Vance also outlined plans for a broader preferential trade bloc. Meanwhile, the administration seeks to bring allied countries into coordinated mineral supply arrangements. Officials believe joint standards and shared rules could stabilize supply and pricing.
The initiative arrives months before a mandatory review of the U.S.-Mexico-Canada Agreement. However, neither the USTR release nor the joint plan mentioned Canada. That omission could draw scrutiny as Ottawa expands its own critical mineral strategy.
U.S. and Mexican officials agreed to identify specific mining and processing projects. Additionally, they plan to examine manufacturing investments in both countries and select third nations. The plan did not provide project names or timelines.
Policymakers will consult on how price floors might function in practice. Furthermore, they will consider trade measures, regulatory standards, and technical cooperation. Officials also discussed investment screening and joint geological mapping efforts.
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Federal agencies move to bump domestic development
The plan outlines possible coordinated responses to supply disruptions. In addition, it calls for research collaboration and coordinated stockpiling strategies. Consequently, policymakers aim to cushion domestic industries from sudden price swings or export restrictions.
USTR officials described the pact with Mexico as the first arrangement of its kind.
At the same time, Washington has moved to secure more domestic sources of critical minerals, expanding its official list to include materials such as antimony.
Antimony is a brittle metalloid used to harden metals and improve flame resistance. Additionally, it plays a role in ammunition, semiconductors and certain battery technologies. The United States currently imports most of its supply, leaving defence and industrial sectors exposed to disruption.
Consequently, federal agencies have taken steps to accelerate domestic development. The Biden administration previously added antimony to its critical minerals list. Furthermore, regulators granted priority permitting under the FAST-41 framework to projects viewed as strategically important.
One of the most prominent examples is Perpetua Resources Corp. (NASDAQ: PPTA) (TSE: PPTA) and its Stibnite project in Idaho. The company aims to supply a significant share of U.S. antimony demand from a single mine. Additionally, federal officials have supported the project through permitting coordination and financial backing, arguing it could reduce reliance on foreign sources.
The policy shift has also influenced exploration activity near the U.S. border. Canadian-listed NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has emphasized antimony alongside gold at its Nevada projects. Furthermore, the company has pointed to rising strategic interest in antimony as a factor supporting renewed drilling.
NevGold Corp is a sponsor of Mugglehead news coverage
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