Group of Seven (G7) members and the EU are considering price floors and taxes on Chinese exports to boost rare earth production and cut reliance on Beijing, Reuters reported, quoting sources. Except for Japan, most G7 nations depend heavily on China for minerals like rare earth magnets and battery metals. Leaders launched a Critical Minerals Action Plan in June, followed by technical talks in Chicago this month. “The heart of the conversation was whether to raise the bar on regulation of foreign investment… to avoid companies going to China,” a source said, adding members were split on directly confronting Beijing. Options include local content rules or sourcing limits in procurement. A former Trump official said Washington is weighing broader steps to curb Chinese price dumping. Price floors backed by subsidies are under review, with the U.S. already applying them, Australia exploring similar measures, and Canada expressing support in principle.