France and “like-minded countries” must work together to avoid becoming “hostages” on critical minerals used in everything from phones to solar panels, Paris’s trade minister said Thursday.<\/p>\n
Speaking in Sydney, Nicolas Forissier told journalists that France was working to expand cooperation with Australia — among the world’s top five producers of lithium, cobalt and manganese, essential for goods like rechargeable batteries and aircraft jet engines.<\/p>\n
He said democratic nations needed to avoid a situation in which critical minerals “could be weaponised again in this very uncertain and violent trade and economic world”.<\/p>\n
“We have to organise things so that it’s secure,” he said.<\/p>\n
China dominates the production of rare earths and has threatened to restrict supplies in a tit-for-tat trade war with Washington — leaving Western nations looking elsewhere.<\/p>\n
“What is important is to build something which will last,” Forissier said.<\/p>\n
“The idea is to find solutions that secure the system and that avoid us, I mean, all our like-minded countries, not to be hostages in the future.”<\/p>\n
Critical minerals were also a key component of a landmark trade deal between the EU and Australia agreed to last month.<\/p>\n
The agreement aims to give Europe better access to these materials, most notably aluminium, lithium and manganese.<\/p>\n
The sweeping accord also means the quota of Australian beef allowed into the bloc will increase more than 10 times the current level over the next decade.\u00a0<\/p>\n
That upset both Australian farmers, who had hoped for more, and their European peers, who had pushed for the opposite.<\/p>\n
Asked about domestic concerns around the deal, Forissier said that complaints from farmers in both France and Australia proved the agreement was “balanced”.<\/p>\n
“For French exporters, especially in certain agro sectors, it’s an excellent deal that has been made,” he said.<\/p>\n
“The discussion has been settled,” he added.<\/p>\n
“We can say that we obtained as much as possible in the discussions.”<\/p>\n
“When you have a trade agreement, everybody makes concessions.”<\/p>\n
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