EU Launches New Strategy to Secure Critical Raw Materials, Lessen Reliance on China

The European Commission has announced a new plan to strengthen the bloc's supply of critical raw materials. A central part of the strategy is the creation of a dedicated coordination center to manage collective purchases and strategic stockpiles. These materials, which include rare earth elements, are vital for manufacturing high-tech products like electric vehicles and wind turbines. Currently, China is the world's dominant supplier, creating a potential vulnerability for European industries. The new system aims to diversify supply sources and increase the EU's purchasing power. Officials note that high global demand, particularly from the United States, further complicates Europe's ability to acquire these essential resources. By pooling demand and building reserves, the EU hopes to ensure a more stable and secure supply chain for its green and digital industries.