USTR says US and Mexico to explore border-adjusted price floors for critical minerals imports over next 60 days; US and Mexico consulting on how price floors could be included in plurilateral agreement on trade in critical minerals

• US and Mexico announce plan to develop coordinated trade policies to mitigate vulnerabilities in critical mineral supply chains.
• Working to develop coordinated trade policies on critical minerals and plurilateral deals with like-minded countries.
• Action plan with Mexico is important step to strengthen bilateral cooperation as review of USMCA trade deal.

The USTR's announcement highlights a proactive approach by the US and Mexico to enhance trade stability for critical minerals. This could signal a strategic shift in how both nations navigate supply chain vulnerabilities, potentially impacting the commodities market and international trade norms, especially concerning critical minerals used in technology and renewable energy sectors.