Overview
- U.S. Treasury Secretary Scott Bessent hosted finance chiefs from the G7 plus Australia, India, Mexico, South Korea and the EU, who voiced a shared intent to move quickly even without a joint statement.
- Officials discussed concrete tools including coordinated shortage monitoring, responses to market disruption, public finance support, tax and trade measures, recycling initiatives and a possible rare‑earth price floor.
- Japanese Finance Minister Satsuki Katayama warned of supply risks tied to Beijing’s tightened controls on dual‑use exports to Japan and relayed lessons from China’s 2010 rare‑earth export halt.
- Australia announced a strategic reserve plan to stockpile antimony, gallium and rare earth elements, with Treasurer Jim Chalmers citing market concentration and price manipulation as investor concerns.
- U.S. House lawmakers introduced the bipartisan DOMINANCE Act to strengthen international coordination, expand allied production and establish new energy‑security compacts for critical minerals.