WASHINGTON, March 19 (Reuters) - The U.S. and Japan on

Thursday released an action plan for their efforts to develop

alternatives to China for critical minerals and rare earths

supply chains, focusing initially on price floors for a select

group of minerals.

A joint U.S.-Japan statement released by the U.S. Trade

Representative's Office during Japanese Prime Minister Sanae

Takaichi's visit to the White House said the two countries aimed

to deliver "concrete, near-term results towards securing mutual

supply chain resilience."

The statement said the two countries will discuss

coordinated trade policies such as a border-adjusted price floor

mechanism, "focusing in the first instance on a select group of

critical minerals." They did not identify which minerals would

be considered first for price floors.

Takaichi and U.S. President Donald Trump signed a framework

agreement on rare earths in October 2025 in Tokyo as both

countries were struggling with Chinese export controls.

The action plan announced on Thursday does not mention China

by name, but refers to a need to correct "distortions resulting

from pervasive non-market policies and practices (that) have

left critical minerals supply chains of market-oriented

economies vulnerable to a myriad of disruptions, including

economic coercion."

The two sides will consult on how price floors and other

trade provisions can fit into a plurilateral critical minerals

supply agreement involving other countries, the statement said.

They also will work to identify specific projects in each

country and elsewhere for critical minerals mining, processing

and manufacturing that meet internationally recognized

responsible business practices and that should get priority

financing and policy support, the statement added.

U.S.-based Albemarle, the world's largest lithium

producer, is "exploring opportunities" for potential Japanese

investment or supply deals with the company's under-construction

North Carolina lithium project, according to the statement.

An Albemarle spokesperson said the company had nothing to

add.

Japan's Mitsubishi Materials ( MIMTF ) is in talks with

Indiana-based ReElement Technologies for a potential equity

stake or joint venture, according to the statement. A

representative for ReElement was not immediately available to

comment.

Tokyo and Washington also agreed to share information on

mining standards, technical cooperation, and geological mapping

of potential critical mineral deposits. They also agreed to

coordinate stockpiling of critical minerals, rapid responses to

prevent supply disruptions and joint actions to address economic

coercion, the statement said.