China Says It May Speed up Rare Earths Application Approvals from EU
China is willing to accelerate the examination and approval of rare earth exports to European Union firms, its commerce ministry said on Saturday.
Price commitment consultations between China and the EU on Chinese-made electric vehicles exported to the EU have also entered a final stage but efforts from both sides are still needed, according to a statement on the Chinese commerce ministry's website.
The issues were discussed between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic in Paris on Tuesday, according to the statement.
The comments mark progress on matters that have vexed China's relationship with the European Union over the past year.
Most recently, China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.
The ministry said China attached great importance to the EU's concerns and "was willing to establish a green channel for qualified applications to speed up the approval process."
Commerce Minister Wang during the meeting "expressed the hope that the EU will meet us halfway and take effective measures to facilitate, safeguard and promote compliant trade in high-tech products to China," according to the statement.
In April, the European Commission said the EU and China had also agreed to look into setting minimum prices of Chinese-made electric vehicles instead of tariffs imposed by the EU last year.
China's commerce ministry said the EU had also proposed exploring "new technical paths" relating to EVs, which the Chinese side was now evaluating.
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China Says It May Speed up Rare Earths Application Approvals from EU
China is willing to accelerate the examination and approval of rare earth exports to European Union firms, its commerce ministry said on Saturday. Price commitment consultations between China and the EU on Chinese-made electric vehicles exported to the EU have also entered a final stage but efforts from both sides are still needed, according to a statement on the Chinese commerce ministry's website. The issues were discussed between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic in Paris on Tuesday, according to the statement. The comments mark progress on matters that have vexed China's relationship with the European Union over the past year. Most recently, China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The ministry said China attached great importance to the EU's concerns and "was willing to establish a green channel for qualified applications to speed up the approval process." Commerce Minister Wang during the meeting "expressed the hope that the EU will meet us halfway and take effective measures to facilitate, safeguard and promote compliant trade in high-tech products to China," according to the statement. In April, the European Commission said the EU and China had also agreed to look into setting minimum prices of Chinese-made electric vehicles instead of tariffs imposed by the EU last year. China's commerce ministry said the EU had also proposed exploring "new technical paths" relating to EVs, which the Chinese side was now evaluating.
