The European Union is creating a new plan to reduce its dependence on Chinese critical raw materials, as stated by European Commission President Ursula von der Leyen. She criticized China for its recent restrictions on exporting rare earths, which are essential for clean energy, defense, and electric vehicle production. The EU aims to strengthen partnerships with countries like Australia, Canada, and Chile to secure alternative sources of these materials.
The plan, called RESourceEU, will focus on recycling critical raw materials and creating joint purchasing and stockpiling strategies. Von der Leyen mentioned that this initiative is similar to the REPowerEU plan made after Russia’s invasion of Ukraine to lessen reliance on Russian energy.
Following China’s new export restrictions on rare earths and battery materials on October 9, von der Leyen highlighted the risks to Europe’s industrial sectors, including automotive and aerospace. She stated that while the EU will look for immediate solutions with China, it is also prepared to take necessary actions if required.
With information from Reuters