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German finance minister urges global cooperation to reduce China reliance on critical minerals, advocating for EU-led supply security measures.
German Finance Minister Lars Klingbeil stressed the importance of central bank independence during a Washington visit, calling it a "clear line" amid a U.S. Justice Department probe into Federal Reserve Chair Jerome Powell.
Attending a G7+ meeting with finance ministers from major economies, Klingbeil urged cooperation to reduce reliance on China for critical minerals like rare earths, proposing price floors for non-Chinese producers.
He cautioned against forming an anti-China coalition, instead pushing Europe to boost domestic production, recycling, and EU-level financing, including a new German raw materials fund, to ensure long-term supply security.
El ministro de Finanzas alemán insta a la cooperación global para reducir la dependencia de China de minerales críticos, abogando por medidas de seguridad de suministro lideradas por la UE.