EU urges China to loosen rare earth curbs as carmakers near crisis point

The EU is urging China to ease export restrictions on rare earth elements, which are critical for the car industry, as production risks halting due to shortages caused by China’s new licensing system. European trade commissioner Maroš Šefčovič raised concerns with Chinese commerce minister Wang Wentao, noting the severe impact on manufacturers like Ford. China, which processes 90% of rare earth magnets, is facing pressure to clarify export data, while EU officials emphasize the need to diversify sources to reduce dependency on Chinese materials.

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