Finance ministers from the G7 and several other major economies met in Washington to discuss ways to reduce their dependence on rare earths and other critical minerals from China, including possible price-stabilization mechanisms and new partnerships to develop alternative supplies, Reuters reported.
The meeting, convened by U.S. Treasury Secretary Scott Bessent, included officials from Japan, Britain, France, Germany, Italy, Canada and the U.S., as well as Australia, Mexico, South Korea and India.
Participants said the talks focused on securing and diversifying supply chains for critical minerals, which are essential for defense technologies, semiconductors, renewable energy equipment and batteries. China...