Please agree to our privacy policy to enable news listening. (Central News Agency, Paris, June 6, Comprehensive Foreign News Report) The trade ministers of the Group of Seven Major Industrial Countries (G7) today criticized some countries for using “economic coercion” to impose export controls, especially restrictions on critical minerals. Agence France-Presse reported that this criticism was clearly aimed at China. The G7 trade ministers issued a statement after a two-day meeting in France. Although it did not directly name China, it was clearly aimed at Beijing’s strict control of rare earth exports. “We are seriously concerned about acts of economic coercion, including threats through export restrictions, which could lead to supply chain disruptions, particularly for critical minerals, with the consequences further undermining economic security and resilience,” the ministers said in a statement. China’s rare earth industry dominates the world; rare earths are indispensable raw materials for products ranging from consumer electronics to defense equipment. China’s control over rare earth exports caused turbulence in the global supply chain. Beijing cleverly used this influence to reach an agreement with Washington in October last year and suspended the fierce trade war between the two sides. Although China has resumed exports of rare earths, the approval process and supply transfer are still a headache for many foreign companies. G7 ministers vowed to work with partners not only to reduce dependence on rare earths, but also to defeat “attempts to weaponize economic dependence.” The ministers added: “We want to curb economic coercion and take action when necessary.” U.S. President Donald Trump and Chinese President Xi Jinping are expected to hold a summit in Beijing next week, and the issue of rare earth supply will be one of the important topics. (Compiled by: Ji Jinling) 1150507 Support the Central News Agency’s choice to stand with the facts. Every donation you make is a small amount of support to protect press freedom. Download the Central News Agency’s “First-hand News” APP to get the latest news in real time. The text, pictures and audio and video of this website may not be reproduced, publicly broadcast or publicly transmitted and used without authorization.
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G7 trade ministers criticize rare earth export controls to threaten China’s economy | International | Central News Agency CNA
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