Japan, U.S. and EU Aim to Reduce Dependence on Chinese Rare Earths

TOKYO, Mar 16 (News On Japan) - Japan is moving to coordinate with Western nations to secure a stable supply of rare earth materials, government sources revealed.

According to interviews with government officials, Japan has begun making arrangements to join a new framework with the United States and the European Union to manage imports of Chinese rare earths and related materials.

The proposed system is expected to introduce measures such as a minimum price mechanism in participating countries, aimed at protecting markets from low-priced Chinese rare earth products while encouraging private-sector investment in alternative supply sources.

For Japan, the initiative is also intended to support the creation of supply chains that do not rely heavily on China.

The plan is expected to be confirmed during the Japan-U.S. summit scheduled for March 19th.

Discussions are also likely to include cooperation surrounding rare earth resources near Minamitorishima Island, where Japan has been advancing development efforts.

Source: テレ東BIZ

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