Finance ministers from the Group of Seven (G7) and other major economies met in Washington on Monday to discuss ways to reduce dependence on rare earth materials from China. The meeting, convened by U.S. Treasury Secretary Scott Bessent, also addressed setting price floors and establishing new partnerships to provide alternative supplies. Attendees included U.S. Trade Representative Katherine Tai and officials from the U.S. Export-Import Bank and J.P. Morgan. The focus was on enhancing economic security through supply chain diversification.
