Japan and EU Set Up Economic 2+2 Forum to Secure Rare Earths

Japan and the European Union have agreed in principle to establish an "economic 2+2" framework that will bring together their foreign and economic ministers for regular strategic talks, according to Nikkei. The first agenda item will focus on joint procurement of rare earths and other critical minerals, part of a broader effort by both sides to limit dependence on Chinese supply chains. Details of possible public-private projects are still being negotiated. A formal announcement is slated for 23 July, when Japanese and EU leaders meet for a previously scheduled summit. The new mechanism is expected to complement existing security consultations and deepen economic coordination between the two partners.