EVIAN-LES-BAINS, France - Leaders of the Group of Seven major democracies agreed Wednesday to diversify global critical mineral supply chains and reduce dependence on any single supplier, unveiling a coordinated strategy aimed at strengthening economic security in an apparent reference to China.
In a joint declaration on the topic issued on the final day of their three-day summit in the French lakeside town of Evian-les-Bains, the G7 pledged to respond collectively to economic coercion involving critical minerals, including export restrictions and retaliatory trade measures.
The leaders also set a goal of reducing dependence on any single supplier of rare earths and permanent magnets to below 60 percent by 2030.
The move comes as China dominates the global rare-earths market, accounting for roughly 70 percent of production and about 90 percent of processing capacity, giving Beijing significant leverage over supply chains critical to industries ranging from electric vehicles and semiconductors to defense systems.
The leaders also discussed broader economic challenges, including global imbalances, trade tensions and rising debt, as major economies grapple with slowing growth and geopolitical uncertainty.
Japanese Prime Minister Sanae Takaichi called on G7 members and like-minded countries to work together to reduce uncertainty in the global economy and address nonmarket policies and practices that contribute to excess production and economic distortions, according to Japan's Foreign Ministry.
Takaichi, attending her first G7 summit since taking office in October, expressed hope that the G7 and its partners will continue to lead the global economy through candid talks.
The first female Japanese premier added that she looks forward to further talks at the Group of 20 summit, which will be chaired by U.S. President Donald Trump in December.
Artificial intelligence featured prominently in the summit's final-day discussions, with the leaders agreeing to promote the safe, rapid and efficient deployment of the technology.
A working lunch was focused on AI innovation, real-world applications and online child safety, with executives from leading U.S. companies, including Anthropic and OpenAI, joining the talks.
Interest in AI has surged with the rapid adoption of generative AI tools, prompting governments to balance economic opportunities against risks such as misinformation, cybersecurity threats and labor market disruptions.
While G7 countries broadly agree on the need for trustworthy AI, regulatory approaches continue to differ, particularly between the United States and the European Union.
During the session, Takaichi noted that advancing AI and digital technologies is one of Japan's 17 key growth strategies and a central driver of global economic growth, according to the Foreign Ministry.
She also said Tokyo is working with like-minded and Global South countries to codevelop AI ecosystems tailored to local conditions based on mutual trust.
Global imbalances were also discussed in talks on trade and industrial policy, with G7 members raising concerns about industrial overcapacity, state subsidies and market distortions in certain major economies, particularly China.
As the summit drew to a close, the leaders underscored the importance of continued cooperation on economic and technology-related challenges.
The summit concluded without a traditional joint communique for the second consecutive year, reflecting persistent differences among members on several issues.
Instead, the leaders issued a series of topic-specific statements covering areas where consensus proved easier to achieve, including geopolitical challenges, efforts to combat drug trafficking and tackling migrant smuggling.
The tentative U.S.-Iran agreement aimed at ending their monthslong war dominated early discussions at the summit. Trump, who arrived at the G7 right after announcing the agreement, sold it as a "breakthrough" and a "tremendous deal" for global security.
On Wednesday, a senior U.S. official disclosed the details of a memorandum of understanding between Washington and Tehran, with the agreement slated to be formalized on Friday at a ceremony in Switzerland.
The G7 consists of Britain, Canada, France, Germany, Italy, Japan and the United States, along with the European Union. Host France also invited the leaders of several countries outside the group, including Brazil, Egypt, India, Kenya and South Korea.
