Overview
- Scott Bessent is hosting about a dozen top finance officials, with sessions beginning Sunday evening and formal talks on Jan. 12 in Washington.
- Attendees include the G7, the European Union, Australia, India, South Korea and Mexico, a group representing roughly 60% of global demand for critical minerals.
- U.S. officials say a statement is expected after the meeting, though no specific joint actions are likely at this stage.
- The push follows last summer’s G7 supply‑chain plan and a December virtual discussion, with urgency heightened by reports of new Chinese export restrictions targeting Japanese firms.
- Australia’s October pact with the United States established an $8.5 billion project pipeline leveraging a proposed strategic reserve to help counter China’s dominance in refining.