The Group of Seven nations this week agreed to pare their reliance on China for vital raw materials, while European leaders struggled to reach a consensus on how to respond to a flood of low-cost Chinese imports.
No single country should supply more than 60 per cent of the G7 nations’ rare earths and permanent magnets by 2030, their leaders agreed during a summit in Evian, France. The nations will subsequently aim for a 50 per cent limit as quickly as possible. Targets for other critical…