Japan, France, Canada work on alternatives to US-led trade bloc for rare earth supplies
Summary
Japan, France, and Canada are exploring alternatives to a US-led trade bloc to secure supplies of critical minerals, aiming to reduce reliance on China through measures like import quotas, subsidies, and a buyers' club initiative.
Key Points
- Japan, France, and Canada are working on alternatives to a US-led trade bloc to secure critical minerals and reduce dependency on China.
- Proposed options include import quotas, mining subsidies, and a buyers' club led by Canada within the G7 framework.
- France supports Canada's buyers' alliance concept and plans to advance it as G7 chair this year.
- Canada has signed deals worth C$12.6 billion in mining investments and Australia intends to join the G7 critical minerals alliance.
