Meeting took place on January 12, 2026, between U.S. Treasury Secretary Scott Bessent and France’s Minister Roland Lescure.
Discussion topics included coordination between G7 and G20 presidencies, mutual economic policy priorities, and the critical minerals finance ministerial.
Secretary Bessent emphasized coordinating priorities across the G20 and G7 presidencies in 2026.
Bessent highlighted the need to address global imbalances within both the G7 and G20 forums.
The meeting included discussion of next steps to follow through on outcomes from the critical minerals finance ministerial.
Follow Up Questions
Who is Roland Lescure and what is his role in the French government?Expand
Roland Lescure is France’s Minister of the Economy, Finance, and Industrial, Energy and Digital Sovereignty. He is a senior cabinet member who oversees France’s overall economic and financial policy as well as its industrial strategy, energy policy and digital/technology agenda.
What is the "critical minerals finance ministerial" and what are its objectives?Expand
The “critical minerals finance ministerial” was a high‑level meeting of finance ministers hosted by U.S. Treasury Secretary Scott Bessent on 12 January 2026 in Washington. Ministers from the G7 and several partner countries (including Australia, India, Mexico, South Korea and others) met to discuss how to:
secure and diversify supply chains for critical minerals, especially rare earth elements;
reduce reliance on China for these materials; and
use financial and policy tools (public financing, incentives, trade measures, possible price floors, new partnerships) to build resilient, more geographically diverse supplies.
What does "coordinating across our G20 and G7 presidencies’ priorities" mean in practice?Expand
In practice, “coordinating across our G20 and G7 presidencies’ priorities” means the United States (holding the G20 presidency in 2026) and France (holding the G7 presidency in 2026) try to line up what each group works on so they reinforce each other instead of running in different directions. That can include:
choosing overlapping priority topics (like global imbalances or critical minerals) for both agendas;
sequencing meetings and workstreams so G7 discussions feed into broader G20 talks; and
aligning concrete initiatives (for example, on supply‑chain resilience or financial regulation) so that similar policies are pushed in both forums.
What are "global imbalances" in the context of G7/G20 economic discussions?Expand
In G7/G20 economic debates, “global imbalances” usually means large, persistent gaps in countries’ external positions—especially big current‑account surpluses in some economies and big current‑account deficits in others. These imbalances reflect underlying issues such as differences in saving and investment, exchange‑rate policies, fiscal stances or competitiveness. They matter because large, long‑lasting imbalances can make the global economy more fragile and have been linked to past financial crises.
What specific next steps were identified to follow through on the critical minerals finance ministerial?Expand
The Treasury readout of Bessent’s meeting with Minister Lescure only says he “highlighted next steps to follow through on the critical minerals finance ministerial” and does not list them, so no specific bilateral steps are publicly known from that document.
Reporting on the ministerial as a whole indicates areas ministers are now expected to work on—such as exploring a rare‑earths price floor, creating new supply partnerships, expanding public financing and incentives, and boosting recycling—but these were discussed options rather than a formal, agreed list of next steps.
What does the French ministerial title "Industrial and Digital Sovereignty" mean and imply for policy priorities?Expand
The title “Industrial and Digital Sovereignty” signals that the French economy ministry is explicitly tasked with reducing foreign dependence and strengthening national and European control in two areas:
Industrial sovereignty – securing domestic/EU capacity in key industries (manufacturing, energy, strategic technologies), supporting industrial competitiveness and the energy transition so France is less vulnerable to external supply shocks.
Digital sovereignty – ensuring France and Europe retain control over critical digital infrastructure and data (cloud, AI, semiconductors, cybersecurity), can protect sensitive information, and are not locked into a few non‑European tech providers.
Decrees and official statements describe this ministry as responsible for economic and financial policy plus industry, energy/energy transition, digital and artificial intelligence—reflecting these sovereignty priorities.