Europe Plans to Copy Trump's Critical Raw Materials Strategy

The European Union is considering replicating the Trump administration's support strategy for critical raw materials to boost its domestic rare earth industry. Members of the European Parliament voted last week to propose the establishment of a 'Critical Raw Materials Center,' which would receive 2 billion euros from the EU's next long-term budget to invest in critical raw material supply chains and enhance Europe's domestic ore mining and refining capabilities. The relevant measures still require approval from member states.