U.S. to host meeting on rare earths as China-Japan tensions simmer

The U.S. will host a gathering of Group of Seven ministers to discuss rare earths this week, underscoring the shared push to develop alternative supplies in an industry dominated by China.

Canadian Finance Minister Francois-Philippe Champagne will be in Washington on Sunday and Monday to meet G7 counterparts, Ottawa said in a statement, adding Treasury Secretary Scott Bessent would host the talks “to discuss global supply chains for critical minerals.”

The discussions are expected to also include officials from Australia, South Korea, India, Mexico and the European Union, and focus on critical raw materials and the security of global supply chains.