Ministers from around 20 countries, including the US, EU, UK, Japan, Australia and other G7 states, will meet in Washington this week to discuss forming a strategic alliance on critical minerals and rare earths.

Axar.az reports that the talks aim to strengthen non-China supply chains and reduce dependence on Beijing, which has previously restricted rare earth exports.

The meeting is seen as a step toward repairing strained transatlantic relations and building broader economic security partnerships, according to the Guardian.

Key discussions will include proposals for the US to guarantee minimum prices for critical minerals, an idea Washington is reportedly hesitant about, unsettling markets in countries like Australia.

Australia has nonetheless announced a major strategic minerals reserve. The EU and UK are also expected to press the US to drop new steel-related tariffs, warning they undermine trust and breach earlier trade agreements.

Officials say a joint statement could mark a milestone shift toward coordinated efforts to “de-risk” from China amid growing geopolitical and trade tensions.