G7 Trade Ministers Tackle Mineral Supply Challenges Amid U.S.-EU Tariff Strains

The G7 trade ministers meet in Paris to address dependency on Chinese mineral supplies critical for various industries. While aiming to secure supply chains, tensions arise as U.S. tariff threats on EU cars loom. Ministers strive to maintain unity and reform global trade practices amidst these challenges.

G7 trade ministers convened in Paris on Wednesday to find common strategies for securing mineral supplies, crucially dominated by China. However, fresh U.S. tariff threats on EU-made cars risked undermining collaborative efforts.

France, under its G7 presidency, aims to prioritize critical mineral supplies, especially as the leaders' summit approaches. Foreign Trade Minister Nicolas Forissier emphasized the focus on progress concerning rare earths and the importance of securing supply chains against economic dependency.

Meanwhile, U.S.-EU tensions continued as President Trump's tariff increase on European cars added strain. Efforts to finalize related trade deal legislation faced challenges due to safeguard divisions, with Germany's automotive sector under pressure from economic headwinds.