AI-Summary – News For Tomorrow
The G7 and EU are exploring measures to boost domestic rare earth production and reduce reliance on China. Options being considered include price floors for rare earth minerals to make domestic mining and processing more economically viable. They are also discussing tariffs or taxes on select Chinese rare earth exports. The aim of these policies is to encourage investment in G7 and EU rare earth supply chains and diversify sources for these critical minerals vital for various industries, particularly green technologies.
News summary provided by Gemini AI.
Group of Seven (G7) members and the European Union are considering price floors to promote rare earth production, as well as taxes on some Chinese exports to incentivise investment, four sources with knowledge of the discussions told Reuters.
