Divya Rajagopal
TORONTO, March 6 (Reuters) - Group of Seven members Japan, France and Canada are working on alternatives to a U.S.-led trade bloc to secure critical minerals and reduce reliance on China, according to three senior officials from these countries.
Some options include import quotas on certain rare earths, subsidies for mining companies to diversify the supply chain on critical minerals, and a buyers' club,a Canada-led G7 initiative that aims to develop a reliable supply chain of critical minerals outside of China and break that country's monopoly on these metals.
In February, U.S. Vice President JD Vance unveiled plans to marshal allies into a preferential trade bloc for critical minerals. But a month after that announcement, some countries are making different plans, an example of Canadian Prime Minister Mark Carney's appeal for middle powers to band together as U.S. President Donald Trump has alienated allies.
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