China says it could speed up approval of rare earth applications from the EU
Brenda Go
SHANGHAI (Reuters) – China is willing to accelerate its review and approval of rare earth exports to European Union companies, and will pass a verdict on a trade investigation into EU brandy imports by July 5, its Commerce Department said on Saturday.
A statement on the Chinese Ministry of Commerce website said the price committee discussions on China’s electric vehicles on China-made electric vehicles are also in the final stages, but efforts from both sides are still needed.
The issue was discussed on Tuesday between China’s Chinese Commerce Minister in Paris and EU Trade Commissioner Maros Sevkovic, according to the statement.
The comments make progress on issues that have plagued China’s relationship with the EU over the past year.
More recently, China’s decision in April overturned the central supply chains of automakers, aerospace manufacturers, semiconductor companies and military contractors around the world with their decision to halt exports of widespread rare earth and associated magnets.
The ministry said China places great importance on EU concerns and is “willing to establish a green channel for qualified applications to speed up the approval process.”
In another statement issued later on Saturday, the Ministry of Commerce said it was willing to further strengthen communications and dialogue with relevant countries regarding rare earth export restrictions, as China recognizes an increase in demand from sectors such as robots and electric vehicles.
Brandy, evs
The province earlier said during the meeting that Minister Wang “hoped that the EU would meet us along the way and take effective measures to promote, protect and promote compliant trade in high-tech products to China.”
China’s anti-dumping measures that applied a mandate of up to 39% on European brandy imports — French cognac taking the brunt of the brunt — also have tensions between Paris and Beijing.
Brandy’s duties came into effect a few days after the EU took action against imports of Chinese-made electric vehicles to protect local industries, urging French President Emmanuel Macron to denounce Beijing as “pure retaliation.”
China’s duties have dented the sales of brands, including LVMH’s Hennessy, Pernod Ricard’s Martel and Remy Cointrow.
Beijing originally intended to make a final decision on Brandy’s duties by January, but the deadline has been extended in April and again until July 5th.
China’s Commerce Ministry said on Saturday that French companies and related associations actively submitted applications on price commitments to brandy, with Chinese investigators reaching an agreement with them on core terms.