European Trade Commissioner Maros Sefcovic has invited Chinese Commerce Minister Wang Wentao to Brussels to discuss China’s tightening of restrictions on rare earth exports. Sefcovic announced on Tuesday that Minister Wang had accepted the invitation, and teams will engage under the export control dialogue upgraded after the July EU-China summit. The aim is to find “urgent solutions” to the ongoing trade concerns.
Following a nearly two-hour call with Wang, Sefcovic emphasised the EU’s desire to avoid escalation. He noted, however, that the situation casts a shadow on EU-China relations, making a swift resolution essential. Sefcovic described the scaled-up restrictions as unjustified and harmful, though he characterised his call with Wang as constructive, with both parties agreeing to increase communication.
The European trade chief stated that EU companies have submitted eight lists of priority applications for approximately 2000 export licenses. According to Sefcovic, only slightly more than half of these applications have been properly addressed. The sectors most affected by these restrictions include the automotive industry and machinery manufacturing.
Sefcovic expressed hope that the upcoming discussions in Brussels would lead to a resolution that eases the burden on European businesses and fosters a more stable trade relationship between the EU and China.
