March 28, 2023
On March 28th local time, the “Agreement between the Government of Japan and the Government of the United States on Strengthening Critical Minerals Supply Chains” (Japan-U.S. Critical Minerals Agreement (CMA)) was signed at the office of the USTR in Washington, D.C., between Ambassador Tomita Koji, and the Honorable Katherine Tai, U.S. Trade Representative. The Agreement entered into force upon signature.
Facing the prospect of significant increase in demand of electric vehicle batteries, it is urgent to secure critical minerals which are essential to the production of clean vehicles. The Agreement is envisaged to build robust supply chains through coordination between Japan and the U.S. and among like-minded countries with strengthened cooperation for ensuring sustainable and equitable supply chains for such critical minerals, including to promote the goals of the Inflation Reduction Act.