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EU Trade Commissioner Maros Sefcovic is in Beijing for two days of talks with Chinese Commerce Minister Wang Wentao on the bloc's trade deficit with China, which runs above 1 billion euros a day, and Beijing's curbs on rare earth exports. The negotiations come as EU lawmakers push for a tougher stance and Germany and France call for a rapid new EU trade instrument.
The latest US sanctions targeting Iran, dubbed 'Economic Isolation,' are unlikely to succeed as Pakistan and China refuse to comply. The campaign risks triggering Chinese rare earth retaliation and deepening global economic instability, while many nations see the US as abandoning multilateralism.
Brazil is becoming a key alternative to China for rare earth supplies, attracting US and Australian investments. But new data reveals a surge in mining permits in sensitive areas, sparking environmental concerns.
The US Department of Defense has committed a conditional $400 million loan to Sunrise Energy Metals to build the world's first primary scandium mine in Australia. This move aims to reduce reliance on Chinese supplies amid export restrictions on critical minerals for defense.
A recent survey shows about 80% of Japanese manufacturers view rare earth procurement as an urgent challenge or severe operational risk, amid China's tightening export controls on minerals essential for high-tech products. The findings highlight growing concerns over supply chain vulnerabilities and are prompting firms to diversify sources and invest in recycling and alternatives.
A Japanese employee of a major heavy electrical machinery manufacturer in China has been detained on suspicion of exporting rare earth products, as Beijing tightens export controls. Details of the individual and the timing of the detention remain unclear, and legal proceedings are ongoing.
China added 10 US firms to its export control list, banning dual-use exports, and prohibited government procurement from nearly 50 US companies. The move follows the Pentagon's blacklisting of major Chinese firms like Alibaba and Baidu, and is seen as a retaliatory yet largely symbolic escalation in the US-China trade war.
The G7 has agreed to reduce reliance on any single rare earth supplier to below 60% by 2030 to diversify supply chains and counter geopolitical risks. China currently dominates refining, providing over 80% of global supply. The plan involves cooperation with resource-rich countries, investment in domestic processing, and new mining projects.
India and the US have signed a framework agreement to secure supplies of strategic minerals and rare earths, as Washington seeks to diversify supply chains and reduce reliance on China. The deal covers mining, processing, recycling, and investment across the entire supply chain.
