Connect with us

Washington, D.C

US to push for quicker action in reducing reliance on China for rare earths

Published

on

US to push for quicker action in reducing reliance on China for rare earths


  • US Treasury’s Bessent said frustrated with lack of urgency
  • G7 plus India, South Korea, Australia and Mexico to attend
  • China dominates critical minerals production

WASHINGTON, Jan 11 (Reuters) – U.S. Treasury Secretary Scott Bessent will urge Group of Seven nations and others to step up their efforts to reduce reliance on critical minerals from China when he hosts a dozen top finance officials on Monday, a senior U.S. official said.

The meeting, which kicks off with a dinner on Sunday evening, will include finance ministers or cabinet ministers from the G7 advanced economies, the European Union, Australia, India, South Korea and Mexico, said the official who was not authorized to speak publicly.

Sign up here.

Together, the grouping accounts for 60% of global demand for critical minerals.

Advertisement

“Urgency is the theme of the day. It’s a very big undertaking. There’s a lot of different angles, a lot of different countries involved and we really just need to move faster,” the official said.

Bessent on Friday told Reuters that he had been pressing for a separate meeting on the issue since a G7 leaders summit in Canada in June, where he delivered a rare earths presentation to gathered heads of state from the U.S., Britain, Japan, Canada, Germany, France, Italy and the European Union.

Leaders agreed to an action plan at the summit to secure their supply chains and boost their economies, but Bessent has grown frustrated about the lack of urgency demonstrated by attendees, the official said.

Aside from Japan, which took action after China abruptly cut off its critical minerals supplies in 2010, G7 members remain heavily dependent on critical minerals from China, which has threatened to impose strict export controls.

China dominates the critical minerals supply chain, refining between 47% and 87% of copper, lithium, cobalt, graphite and rare earths, according to the International Energy Agency. These minerals are used in defense technologies, semiconductors, renewable energy components, batteries and refining processes.

The U.S. is expected to issue a statement after the meeting, but no specific joint action is likely, the official added.

Advertisement

US URGES OTHERS TO FOLLOW ITS LEAD

“The United States is in the posture of calling everyone together, showing leadership, sharing what we have in mind going forward,” said the official. “We’re ready to move with those who feel a similar level of urgency … and others can join as they come to the realization of how serious this is.”

The official gave no details on what further steps were planned by the Trump administration, which is pushing forward to boost domestic production and reduce reliance on China through agreements with Australia, Ukraine and other producers.

The U.S. signed an agreement with Australia in October aimed at countering China’s dominance in critical minerals that includes an $8.5 billion project pipeline. The deal leverages Australia’s proposed strategic reserve, which will supply metals like rare earths and lithium that are vulnerable to disruption.

The official said there had been progress, but more work was needed. “It’s not solved,” they added.

Canberra has said it has subsequently received interest from Europe, Japan, South Korea and Singapore.

Monday’s meeting comes days after reports that China had begun restricting exports to Japanese companies of rare earths and powerful magnets containing them, as well as banning exports of dual-use items to the Japanese military.

The meeting was planned well before that action, U.S. officials said. China was still living up to its commitments to purchase U.S. soybeans and ship critical minerals to U.S. firms.

Advertisement

Reporting by Andrea Shalal; Editing by Michael Perry

Our Standards: The Thomson Reuters Trust Principles., opens new tab



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Washington, D.C

Thousands turn out – again – as third 'No Kings' rallies take over Maryland streets

Published

on

Thousands turn out – again – as third 'No Kings' rallies take over Maryland streets


Thousands turned out at the dozens of No Kings rallies scattered across Maryland, part of the millions expected across the country for the third such event. In Maryland, turnout was particularly heavy in Hagerstown, near a proposed ICE detention facility.



Source link

Continue Reading

Washington, D.C

WATCH LIVE: No Kings march and rally in DC

Published

on

WATCH LIVE: No Kings march and rally in DC


Thousands are expected gather in Washington, D.C. for a “No Kings” march and rally. 

Here’s everything you need to know:

Advertisement

What is the No Kings protest?

What we know:

Organized locally by area chapters of Indivisible and allied grassroots groups, the event aims to draw protesters to downtown Washington and surrounding counties to oppose policies of the Trump administration and to voice broader concerns about civil rights and democratic norms.

Advertisement

No Kings protest details

Timeline:

The march will kick off at 10 a.m., with participants gathering at Memorial Circle near Arlington Cemetery, with additional access from the Blue Line or nearby parking at the Fashion Centre at Pentagon City, according to the event organizers. There is no public parking in the immediate area, but participants can be dropped off at the circle.

Advertisement

From there, the procession will head across the Memorial Bridge into Washington, D.C., passing the Lincoln Memorial and continuing on to the Washington Monument.

At the conclusion of the march, participants can walk to a downtown rally, from 1:30 p.m. to 4 p.m.

Other ‘No Kings’ rallies in the DMV

Advertisement

Dig deeper:

In addition to the main rally in downtown D.C., several other demonstrations tied to “No Kings 3” are scheduled around the DMV this Saturday.

In Arlington, Virginia, activists are organizing a march across the Memorial Bridge beginning at 10 a.m., with protesters expected to continue into West Potomac Park before joining larger crowds in the District proper, for example. 

Advertisement

There are hundreds of “No Kings” events scheduled to take place this Saturday throughout the DMV. You can click here to find a list of all of them. 

How to watch No Kings march and rally in DC

What you can do:

Advertisement

FOX 5 DC will be covering No Kings in D.C. all day on FOX LOCAL and in the liveplayer at the top of this story. 

FOX 5 DC is available to watch for free on Roku, Amazon FireTV, Apple TV, Google Android TV and Vizio with the FOX LOCAL app. Here’s how to download FOX LOCAL on your mobile phone. 

Advertisement
Washington, D.C.News



Source link

Continue Reading

Washington, D.C

‘Strong smell’ shuts down flights at major DC-area airports for the second time this month

Published

on

‘Strong smell’ shuts down flights at major DC-area airports for the second time this month


A reported “strong smell” at a key air traffic control center disrupted flights Friday evening at major airports across the Washington, D.C., region for the second time in two weeks.

The Federal Aviation Administration (FAA) temporarily halted flights at Ronald Reagan Washington National Airport (DCA), Washington Dulles International Airport (IAD), Baltimore/Washington International Airport (BWI), Charlottesville–Albemarle Airport (CHO) and Richmond International Airport (RIC), the agency told FOX Business in an email.

Advertisement

The FAA said the disruptions were due to a “strong smell” at the Potomac Terminal Radar Approach Control (TRACON) center, which manages airspace in the region.

GROUND STOP LIFTED AT MAJOR DC-AREA AIRPORTS AFTER CHEMICAL ODOR DISRUPTS AIR TRAFFIC CONTROL

An FAA air traffic control tower at Ronald Reagan Washington National Airport in Arlington, Va. (Samuel Corum/Bloomberg via Getty Images / Getty Images)

It was not immediately clear what caused the smell.

Ground stops at Dulles, Reagan National and BWI remained in effect until around 8 p.m. ET before being lifted, according to the FAA’s website.

Advertisement

NEWARK AIR TRAFFIC CONTROLLERS LOST RADAR, RADIO COMMUNICATIONS WITH PLANES FOR OVER A MINUTE, SPARKING CHAOS

The FAA said the disruption was due to a “strong smell” at the Potomac Terminal Radar Approach Control (TRACON) center. (Flightradar24)

As of 8:30 p.m., Reagan National was experiencing ground delays, while BWI continued to see departure delays.

Earlier this month, a ground stop was similarly issued at several airports in the Washington, D.C., region after a chemical odor was detected at the TRACON center.

FATAL LAGUARDIA COLLISION RENEWS FOCUS ON RUNWAY INCURSION RISKS ACROSS US

Advertisement

Transportation Secretary Sean P. Duffy speaks at a news conference at Ronald Reagan Washington National Airport. (Heather Diehl/Getty Images / Getty Images)

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The temporary ground stop March 13 similarly affected DCA, IAD, BWI and RIC, Transportation Secretary Sean Duffy said at the time.

Duffy said the smell came from an overheated circuit board, which has since been replaced.



Source link

Advertisement
Continue Reading

Trending