Finance chiefs from the Group of Seven industrial nations will consider a joint response to discourage China’s planned move to control the global supply of rare earths, officials said on Wednesday.
Germany Finance Minister Lars Klingbeil told reporters that the G-7 gathering later today will include a discussion of a common approach to address China’s actions with targeted measures, while cautioning against taking any steps that backfire on their economies.
Treasury Secretary Scott Bessent indicated the US would seek wider support beyond the G-7 — which also includes Canada, Japan, France, Italy and the UK — noting that finance ministers from around the world are visiting the US capital for the annual meetings of the International Monetary Fund and World Bank this week.
“We’re going to be speaking with our European allies, with Australia, with Canada, with India and the Asian…
