G7 pushes critical minerals plan to cut reliance on China
What's new: Leaders were negotiating support such as subsidies, price floors and guaranteed purchases for supply chains outside China.
G7 leaders meeting in Evian-les-Bains on Wednesday worked to finalize a joint statement on critical minerals aimed at reducing Western dependence on China, a vulnerability exposed by Beijing's 2025 export curbs on rare-earth magnets and other niche materials. France, this year's host, has made mineral supply chains a central summit theme as governments try to secure mining offtake and expand processing and recycling capacity outside China. Draft measures under discussion include subsidies, market standards, guaranteed purchases and investor protections against dumping or retaliation. The talks also fed into a wider G7 debate over global trade imbalances and Europe's growing alarm over China's record trade surplus.