At this year’s G7 summit, European Commission President Ursula von der Leyen held up a symbol of the West’s bid to gain supply chain independence from China: a rare earth magnet.
“It was manufactured in Estonia, by a Canadian company using raw materials sourced from Australia and supported by the EU’s Just Transition Fund,” the European Union chief told the other heads of state, including President Donald Trump, on June 15.
The fund provides financial support for the EU’s goal to achieve net-zero emissions of all greenhouse gases.
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