WASHINGTON \u2013 <\/p>\n
Finance ministers from the Group of Seven major industrial nations agreed at a meeting in Washington on Monday to take measures quickly to enhance supply chains for rare earth minerals.<\/p>\n
Hosted by U.S. Treasury Secretary Scott Bessent, the meeting among the U.K., Canada, France, Germany, Italy, Japan and the United States plus the European Union came at a time when China is tightening controls on rare earth exports to Japan and there are fears the impact of the Chinese measure may spread across the world.<\/p>\n
Finance Minister Satsuki Katayama attended the meeting from Japan. Officials from resource-producing countries, such as Australia, also took part. Katayama held a bilateral meeting with Bessent.<\/p>\n
Katayama told the G7 meeting that Tokyo has strongly protested to China and has urged the country to lift its rare-earth export restrictions.<\/p>\n
Speaking with reporters after the meeting, she said that the Japanese side had obtained understanding from other participants over efforts to “speedily lower dependence on China for rare earth supplies.”<\/p>\n
“I was pleased to hear a strong, shared desire to quickly address key vulnerabilities in critical minerals supply chains,” Bessent posted on X, formerly Twitter, playing up the outcome of the G7 meeting.<\/p>\n
The Chinese government has been raising pressure on Japan since Prime Minister Sanae Takaichi made remarks last November on a possible contingency over Taiwan. Beijing banned dual-use goods exports to Japan earlier this month.<\/p>\n
The G7 members and other countries that rely on China for rare-earth supplies aim to strengthen their unity against Beijing’s trade weaponization.<\/p>\n
At the Washington meeting, the G7 ministers and others also discussed setting floor prices for rare earths in response to oversupply from China.<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON \u2013 Finance ministers from the Group of Seven major industrial nations agreed at a meeting in Washington…\n","protected":false},"author":2,"featured_media":246057,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,1657,54935,4406,33588,184,40129,85,46,9553,23071,2635,9688,3793,730],"class_list":["post-246056","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-china","tag-china-japan-relations","tag-defense","tag-economic-security","tag-economy","tag-g7","tag-il","tag-israel","tag-rare-earths","tag-sanae-takaichi","tag-scott-bessent","tag-supply-chains","tag-trade","tag-washington"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/246056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=246056"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/246056\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/246057"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=246056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=246056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=246056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}