G7, Global Partners Meet in Washington to Cut Rare Earth Dependence on China

Finance ministers from the G7 and other major economies have met in Washington on ways to reduce dependence on rare earths from China, including setting a price floor and new partnerships to build up alternative supplies.
The meeting, convened by United States Treasury Secretary, Scott Bessent, included finance ministers from G7 members Japan, Britain, France, Germany, Italy, Canada and the U.S. as well as officials from Australia, Mexico, South Korea and India.
Meanwhile, Japanese Finance Minister, Satsuki Katayama told reporters that there was broad agreement on the need to swiftly reduce reliance on China for rare earths.