US EditionChina's suspension of rare earth controls applies to EU: official
The EU seeks to stabilize rare earth supply chains through talks with China and the US amid ongoing trade disputes and a proposed common purchase plan, officials said.
- Following discussions with the United States, China on Thursday suspended export restrictions including rare earths for one year, and Maros Sefcovic said the agreement is `erga omnes` and should apply to the EU.
- EU officials proposed pooled purchases and stockpiles to secure supplies, envisioning common buying of critical raw materials and European storage, with Italy hosting to reduce dependence on China’s dominant mineral production.
- Last month the US Department of Commerce said it would impose provisional anti-dumping duties of over 91 percent on Italian pasta makers, and Maros Sefcovic called it `This was a very surprising move from the United States towards the European Union, towards pasta producers`.
- Controls on rare earths have rattled markets, disrupting supply chains as only 50 percent of EU applications were properly processed and the export licences system failed.
- Brussels expects concrete results from meetings with Beijing as Maros Sefcovic said, `I will speak again with my Chinese counterpart very, very soon`, signaling imminent talks.
23 Articles
23 Articles
China's rare earth rules apply to EU
The EU's commissioner for trade on Friday said China's one-year suspension on its restrictions of rare earth materials would apply to the bloc as well as the United States. "My understanding is that the agreement, which was found between the US and China in this matter, is 'erga omnes', so we should apply it to all and, of course, including the European Union," Maros Sefcovic told reporters during a visit to Rome. Following discussions with the …
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The European Commission has indicated this Thursday that it welcomes the agreement between the United States and China to suspend a year of new controls on the export of rare earths, pointing to possible results of the technical meeting between the European Union and Beijing this Friday to address precisely this crisis.
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