The U.S. Treasury stated that Bessen had met with ministers from multiple allied countries on Monday to discuss how to build supply chains for critical minerals, especially rare earth elements, and achieve supply chain diversification, urging allied countries to enhance the resilience of their supply chains and reduce reliance on China for critical minerals. Bessen expressed optimism that these countries would seek "prudent de-risking, not decoupling," and believed that countries have recognized the need to address current shortcomings in critical mineral supply chains. The U.S. Treasury said participants included representatives from Australia, Canada, the European Union, France, Germany, India, Italy, Japan, Mexico, South Korea, and the United Kingdom. These countries account for about 60% of global demand for critical minerals. As previously mentioned by The Washington Post, Israel, Saudi Arabia, Qatar, and the UAE are also expected to join the U.S. supply chain initiative.
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