EU and China agree on plan to iron out rare earth export restrictions, von der Leyen says
China's chokehold on
rare earth exports has become one of the biggest issues in the EU-China relationship and was high on Brussels' agenda as its leaders sat down with Chinese President Xi Jinping and Premier Li Qiang in separate sessions.
The tension stems from China's decision to impose licensing requirements on the export of rare earth elements and magnets in April. The move was a response to US tariffs, but European firms were caught in the crossfire, with some production lines grinding to a halt.
Von der Leyen acknowledged China's efforts 'on fast tracking licences for the
critical raw materials ' and said progress was vital to repairing 'trust in our trade relationship'.
'We need a reliable and secure supply of critical raw materials from China. Being seen as a reliable supplier and partner is clearly aligned with China's long-term economic and strategic interests,' she said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
4 hours ago
- South China Morning Post
US-India trade talks seen unlikely to produce deal by August 1 deadline
Months of intense negotiations appear unlikely to produce a trade deal between the US and India before the August 1 deadline, despite US President Donald Trump having teased one for months as 'coming soon', according to three people familiar with the situation. One person described the current state of discussions as a 'total mess' behind the scenes as Trump and his trade representative, Jameison Greer, continue to push for a pact that would secure greater market access for American produce, dairy, and poultry in India. 'Despite bullish comments by India's trade minister, securing a deal by August 1 seems nearly impossible', said Rick Rossow, chair in US-India Policy Studies at the Center for Strategic and International Studies, a Washington think tank. He said that while 'negotiations seemed to move pretty fast in the early days', the closing stages are 'always the most difficult'. Indian Minister of State for External Affairs Kirti Vardhan Singh on Thursday told the Indian Parliament that negotiations with the US were 'active' and revolved around 'enhanced mutual market access, reduction of tariffs and non-tariff barriers and closer integration of supply chains'. Rajesh Agarwal, India's chief negotiator and Commerce Department special secretary, was in Washington last week for trade talks but the July 14-17 negotiation ended without any announcement.
South China Morning Post
5 hours ago
- South China Morning Post
Trump says Canada may ‘just pay tariffs' as trade talks stall
US President Donald Trump said trade talks with Canada are not a focus for his administration right now, and instead of negotiating a deal, he may decide to just leave existing import taxes in place. Advertisement 'We haven't really had a lot of luck with Canada,' Trump told reporters on Friday morning. 'I think Canada could be one where they'll just pay tariffs, not really a negotiation,' he added. 'We don't have a deal with Canada. We haven't been focused on that.' The Canadian dollar had a muted reaction to the remarks, which were similar to previous comments by the president. The Canadian dollar was trading at C$1.3695 per US dollar as of 10.27am in New York. The president's statements come a day after Canadian officials held a series of meetings in Washington with Republican senators. Commerce Secretary Howard Lutnick also met on Wednesday night with Dominic LeBlanc, the Canadian minister in charge of US trade. Advertisement Prime Minister Mark Carney has also lowered expectations recently of reaching a deal with Trump by August 1, saying Canada won't sign a bad agreement just to get one done.
South China Morning Post
6 hours ago
- South China Morning Post
Police slap HK$200,000 bounties on 15 members of subversive ‘Hong Kong Parliament'
The city's national security police have placed a new round of bounties on 15 overseas activists wanted for their involvement in a group called 'Hong Kong Parliament', which the force has deemed subversive and has accused it of violating the Beijing-imposed security law. The HK$200,000 (US$25,640) reward offered for each fugitive was supported by the Office for Safeguarding National Security in Hong Kong, which said the group's actions, including holding an unlawful election 'posed a serious threat to national sovereignty, security and developmental interests of the country'. The activists included members of a Taiwan-based outfit that advocates Hong Kong independence. New arrest warrants were announced on Friday for Chan Lai-chun, Feng Chongyi, Sasha Gong, Ng Man-yan and Tsang Wai-fan, who were accused of establishing a so-called parliament-in-exile in 2022 That year, the group, mainly founded and run by self-exiled activists, formed an 'electoral committee' in Canada to hold elections that it said 'represents, solidifies and revives Hong Kong people's rights of self-determination'. The vote planned in 2022 was postponed to May this year. The group said 15,702 votes were cast to elect 15 members from 18 candidates for its first 'parliament' and a 'virtual swearing-in ceremony' was held on July 14. But five winners refused to be sworn in or announced their departure from the group after winning. Another 10 people were accused by Hong Kong national security police of taking part in the election and swearing in as so-called parliament members – Chin Po-fun, Ha Hoi-chun, Hau Chung-yu, Ho Wing-yau, Alan Keung Ka-wai, Tony Lam, Agnes Ng, Wong Chun-wah, Wong Sau-wo, and Zhang Xinyan.
