EU and China establish communication channel for rare earth supply

The EU has established a dedicated communication channel with China to ensure a stable supply of rare earth elements crucial for European industries. This initiative follows China's earlier imposition of export controls on rare earths, which raised concerns in Europe about potential impacts on the production of electric vehicles and other technologies. The EU and China have agreed to prioritize European companies' applications for export permits, with officials working to expedite the process for these critical materials.