Minerals Royalty Agreement With Japan
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FAQ
TOKYO -- The Ministry of Economy, Trade and Industry will subsidize up to half the cost of mine development and smelting projects of important minerals by Japanese companies, Nikkei has learned.
Japan signed a critical minerals deal with the U.S. ? but it's still losing the global EV race. Tokyo in March signed the U.S.-Japan Critical Minerals Agreement, securing both countries' commitment to strengthen supply chains and promote EV battery technologies.
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.
WASHINGTON?The U.S. and Japan reached a trade agreement for minerals used in clean-energy technologies, a deal aimed at allowing Japan to meet sourcing requirements for new electric-vehicle subsidies in the U.S. and shifting energy supply chains away from China.
The United States and Japan announced a trade deal March 27, 2023 on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access to the new $7,500 U.S. EV tax credit.
