EU looks at legally forcing industries to reduce purchases from China

Commission unveils €3bn strategy to de-risk and diversify supply chains for critical rare earth metals and elementsBusiness live – latest updatesThe EU is considering legally forcing industries to reduce purchases from China to insulate Europe from future hostile acts, the industry commissioner, Stéphane Séjourné, says.He made his remarks as the European Commission unveiled a €3bn (£2.63bn) strategy to reduce its dependency on China for critical raw materials amid a global scramble caused by Beijing’s “weaponisation” of supplies of everything from chips to rare earths. Continue reading...