EU Trade Commissioner Sefcovic says he discussed critical minerals and steel with US Commerce Secretary Lutnick, and the EU and US agreed to accelerate discussions on steel derivatives
- Also discussed cooperation on energy security with Treasury Secretary Bessent
- Discussed disruptions of fertiliser supply and the alarming situation in Africa with Bessent
- Sefcovic expects to suggest a couple of pilot projects on critical minerals very quickly
- Says he raised question of US easing sanctions on Russian oil during discussion with Bessent, understand that it will not be repeated in the future
Context
The discussions between EU Trade Commissioner Sefcovic and U.S. Commerce Secretary Lutnick highlight ongoing efforts to reinforce trade relations, particularly in critical minerals and steel derivatives. This alignment could lead to more stable supply chains, particularly for energy and essential materials, and may also contribute to easing geopolitical tensions, especially regarding sanctions on Russian oil. Traders should monitor any developments that might affect commodity prices and cross-border trade dynamics.
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