The White House said it plans to create a market for critical metals with the EU

TheUnited States considers it important to create a common market for critical rare earth metals with the European Union (EU) to prevent China from cutting off access to the resources. This was announced on January 13 by Jake Sullivan, National Security Advisor to U.S. President Joe Biden.

According to him, the creation of such a market is one of the main directions that the United States and Europe should work out in the next four years.

"This is necessary in order not to depend on China and not to allow it to cut off access to resources critical to our national security," Sullivan was quoted by the RIA Novosti news agency as saying.

The presidential adviser also emphasized that the U.S. has already taken certain steps in this area, but there is much more to be done.

He expressed hope that the new administration of President-elect of the United States Donald Trump will continue the work started.

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Trump's protectionism will lead to a new round of trade wars and difficulties for China and Europe

Earlier in the day, Sullivan said that the United States intends to maintain economic integration with China. According to him, restrictions on the export of high technologies with national significance are needed to prevent their use against the United States. At the same time, he emphasized that such a policy should not entail complete isolation.

On December 20, 2024, Trump threatened the EU with increased import duties if the association does not increase purchases of American energy resources.

Before that, in November, The Washington Post reported that the trade duties, which Trump is going to introduce, could cause serious damage to the EU countries. It is specified that large European economies at the current moment are already lagging behind the United States as a result of the pandemic. According to economists, "protectionist measures of Trump" may entail further recession in Europe and complicate relations between allies.

Also in November it became known about the fears of the European Union that after the election of Trump, a new trade war between the countries of the association and Washington may begin. It was noted that in 2018, as President of the United States, Trump, for reasons of national security, introduced a duty on steel at a rate of 7% and a tariff on imports of aluminum at a rate of 10%.