WASHINGTON: Canada&#39;s finance minister voiced optimism Thursday that the Group of Seven nations can &quot;move from dependence to resilience&quot; in the face of China&#39;s tightening rare earth export controls. Speaking to AFP in Washington, Canadian Finance Minister Francois-Philippe Champagne said rare earths were a key topic in around two hours of talks with his G7 counterparts on Wednesday. He expressed hope, however, that Canada and its allies can find solutions together to &quot;move from dependence to resilience.&quot; &quot;Around the table, we have all the solutions to address this issue, including Canada, which has critical minerals,&quot; he said. Chinese export controls&nbsp;In early October, China announced fresh controls on the export of rare earth technologies and items, drawing a fiery rebuke from US President Donald Trump. Trump swiftly threatened to slap an additional 100-percent US tariff on goods from China, a move that would again snarl supply chains. Champagne&#39;s remarks to AFP came on the sidelines of the International Monetary Fund and World Bank&#39;s fall meetings, where he chaired the gathering of G7 finance leaders. Other leaders in the grouping -- consisting of Britain, Canada, France, Germany, Italy, Japan and the United States -- have raised worries over China&#39;s rare earth controls as well. &lsquo;Deeply concerned&rsquo;Japan&#39;s Finance Minister Katsunobu Kato said his country is &quot;deeply concerned&quot; about the extensive restrictions China announced, urging for a united G7 response. UK Finance Minister Rachel Reeves criticized Beijing&#39;s move as a &quot;wrong decision&quot; that is dangerous for the global economy. And US Treasury Secretary Scott Bessent on Wednesday slammed China&#39;s actions, vowing that: &quot;We are not going to let a group of bureaucrats in Beijing try to manage the global supply chains.&quot; Bessent also warned: &quot;If some in the Chinese government want to slow down the global economy through disappointing actions and through economic coercion, the Chinese economy will be hurt the most.&quot; Tit-for-tat tariffsTit-for-tat tariffs between the United States and China hit triple-digit levels earlier this year, although Washington and Beijing have since de-escalated tensions. But their truce remains shaky, with Trump previously also threatening to scrap a potential meeting with Chinese leader Xi Jinping after Beijing announced the rare earth curbs. During their talks in Washington, G7 finance ministers also discussed &quot;the challenges to global economic growth and the need to promote and advance more inter-G7 trade, with particular focus on imbalances and critical minerals,&quot; a statement said.

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In early October, China announced fresh controls on export of rare earth technologies; Britain, Canada, France, Germany, Italy, Japan and US have raised worries over China's rare earth controls. 

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Canadian minister hopeful G7 can lower rare earth reliance on China

Canadian minister hopeful G7 can lower rare earth reliance on China