Champagne meets G7 finance ministers in Washington on trade and critical minerals

Canada’s finance minister François-Philippe Champagne is in Washington, D.C. for meetings focused on trade and the global supply of critical minerals, as Canada and its allies look to reduce reliance on China and strengthen secure supply chains.

In a statement, the federal government said Champagne is meeting Sunday and Monday with finance ministers from G7 countries and other partners with similar economic priorities. Discussions are expected to focus on trade co-operation and the development of critical minerals essential for clean energy, electric vehicles, and advanced manufacturing.

Champagne is also scheduled to participate in a finance ministers’ meeting on critical minerals supply chains hosted by U.S. Treasury Secretary Janet Yellen. The talks come as Canada positions itself as a reliable supplier of minerals such as lithium, nickel, cobalt, and rare earth elements.

In December, Champagne said Canada must move faster on the extraction and refining of critical minerals, arguing the country has an opportunity to support Europe and other allies in reducing their dependence on China. He has previously emphasized that Canada’s resource base and regulatory framework make it a trusted partner.

The meetings follow commitments made at the G7 summit in Kananaskis, Alta., last June, where member countries launched an action plan and production alliance aimed at boosting critical minerals development. In October, Ottawa announced the first projects supported under that alliance, signaling early progress on those commitments.