Bessent pushes allies on rare earth supply chains

 United States Treasury Secretary Scott Bessent in a meeting with finance leaders on Monday, discussed how to "secure and diversify" supply chains for critical minerals, with rare earths a central focus, according to a Treasury Department readout.

Ministers from Australia, Canada, France, Germany, India, Italy, Japan, Mexico, the Republic of Korea and the United Kingdom joined the talks, along with European Commissioner Valdis Dombrovskis. US officials outlined ongoing investments and future steps, while Bessent noted that supply chains have become "highly concentrated and vulnerable to disruption and manipulation."

"Secretary Bessent expressed his optimism that nations will pursue prudent derisking over decoupling, and that they understand well the need to remedy current deficiencies in critical minerals supply chains," the statement read.

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