G-7 Ministers Discuss Cooperation on Rare Earth Supplies

Washington, Jan. 12 (Jiji Press)–Finance ministers from the Group of Seven major industrial nations at a meeting in Washington on Monday discussed cooperation on enhancing supply chains for rare earth minerals. Hosted by U.S. Treasury Secretary Scott Bessent, the meeting among Britain, 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. From Japan, Finance Minister Satsuki Katayama attended the meeting. Officials from resource-producing countries, such as Australia, also took part. Katayama held a bilateral meeting with Bessent. The Chinese government has been raising pressure on Japan since Japanese Prime Minister Sanae Takaichi made remarks last November on a contingency over Taiwan. Beijing banned dual-use goods exports to Japan earlier this month. The G-7 members and other countries that rely on China for rare earth supplies aim to deepen cooperation against Beijing’s trade weaponization. END [Copyright The Jiji Press, Ltd.]