China has confirmed that the suspension of export controls on rare earth elements will extend to the EU, EU trade chief Maroš Šefčovič said after high-level talks with Chinese Commerce Minister Wang Wentao.
“China confirmed that the suspension of export controls imposed in October will be extended to the EU. Both sides reaffirmed their commitment to continue co-operation to improve the implementation of export control policies,” Šefčovič wrote on social network H.
Beijing agreed this week to postpone for a year the latest round of rare earth element export restrictions following a meeting between Chinese President Xi Jinping and US President Donald Trump. That prompted the EU to quickly seek assurances that the suspension would also extend across the bloc.
China has tightened controls on critical minerals, expanding export controls on rare earth elements and other elements critical to clean technology and defence industries. According to Politico, the EU, which depends on China for 99 per cent of its rare earth supply, is trying to reduce its dependence.