Japan urges united G7 response to China's rare-earth export curbs
TOKYO: Group of Seven nations should unite in responding to China's rare-earth export curbs, Japan's finance minister said on Thursday.
"Japan is deeply concerned about the extensive export restrictions on rare earths announced by China last week, and the G7 should unite in dealing with the issue," Katsunobu Kato told reporters in Washington.
Beijing announced on October 9 new controls on the export of rare-earth technologies and items.
China is the world's leading producer of the minerals used to make magnets, crucial to the auto, electronic and defence industries.
They have been a major sticking point in trade negotiations between China and the United States.
US Treasury Secretary Scott Bessent on Wednesday slammed the new curbs as "China versus the world", vowing that Washington and its allies would "neither be commanded nor controlled".
Bessent and Kato's comments came as global economic leaders gather in Washington this week for the International Monetary Fund's and World Bank's fall meetings.
Besides the United States and Japan, the G7 includes Canada, France, Germany, Italy and Britain.
By RSS/AFP
