The Group of Seven (G7) countries agree to reduce reliance on China for rare earths and related critical minerals, according to multiple reports. During a summit in Evian, France, G7 leaders set a benchmark that no single country should supply more than 60% of their imports of rare earths and permanent magnets by 2030. The pledge is intended to limit China’s role in supply chains for materials used in technologies such as electronics, energy systems, and defense.
Several outlets report that the agreement reflects concern over China’s market dominance and seeks to diversify sources among G7 members and partners. The Financial Post and Bloomberg describe the same 60% target, citing people familiar with the discussions. The South China Morning Post adds that the leaders also plan to pursue a faster follow-on goal of lowering the limit toward 50% as quickly as possible, though details and timelines are not consistently outlined across reports.
Experts cited by Fortune characterize the goal as ambitious, but the articles also note that the effort will require further work to expand alternative supply, investment, and manufacturing capacity.
