Key officials from the Group of Seven (G7) bloc are expected to convene soon and issue a group response to China’s ramped-up export restrictions, in turn impacting the supply of rare earths across the globe. US officials – Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer – joined other world leaders in blasting the Asian countries severe rule pertaining to export.
During a press conference addressed global trade ties on Wednesday (US time), both American official hit out at China’s “global supply-chain power grab,” noting that the US and its allies would not stand for the imposed restrictions. Amid already strained relations with China, Greer and Bessent maintained that they had no intentions of escalating the friction between them.
