Germany and Canada plan to deepen their cooperation in the extraction of critical raw materials. German Chancellor Friedrich Merz and Canadian Prime Minister Mark Carney announced the signing of a memorandum of understanding during a meeting held in Berlin on Tuesday. Merz stated, “This is a good step to strengthen our economies.” Carney highlighted his country’s vast wealth of these raw materials, mentioning lithium and rare metals among others. In April, Beijing raised global concerns by imposing export controls on seven rare metals. China remains the undisputed global leader in the critical raw materials market, which is pivotal for the production of electric motors and laptops.