The European Union is looking to work with the United States and G7 nations to counter China’s tightening of rare earth export controls, Europe’s trade ministers said on Oct. 14.
The ministers made the comments ahead of a meeting of EU trade ministers and officials.
On Oct. 9, China announced stricter export restrictions for rare earth minerals, requiring approval to export products that contain more than 0.1 percent of the elements.
In addition, foreign companies producing rare earth and related magnets on China’s control list will now also need an export license if material in the final product was sourced from China….