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China Wields Its Rare Earth Leverage Over Europe With New Export Controls
The New York Times • • world
Key Points:
- China blacklisted 14 European Union companies, banning shipments of "dual-use" materials critical for producing rare-earth magnets and semiconductors, impacting industries like automotive and advanced manufacturing.
- This move follows China's earlier blacklisting of two American companies involved in the U.S. rare earth magnet supply chain efforts.
- The Chinese Ministry of Commerce acted in response to EU sanctions targeting 14 companies in China and Hong Kong linked to Russia's military-industrial complex amid the Ukraine conflict.
- China has leveraged its control over rare earth mining and processing in economic disputes with trading partners over the past 16 months.
- The EU sanctions also targeted 24 Russian companies and 10 firms outside Russia, aiming to restrict support for Russia’s war effort.
