The EU, like China, has been accused of having strict import restrictions.
of european union We have fundamentally overhauled our policy on the handling of critical raw materials, imposing restrictions on imports from the following countries: China Unleashing subsidies and other financial incentives to increase home production, according to outraged lawmakers.
planned by European CommissionIt is an administrative body of the EU.
Internal Market Commissioner Thierry Breton said: “The EU is gaining momentum.
But they have been criticized across Europe for the dangers of following China’s example at the expense of taxpayers.
Italy’s MEP Marco Zanni said this was the “greatest exercise” of state control over economic problems “ever seen in Europe” and that the subsidies would tie the bloc “hand and foot” to Beijing. rice field.
Overall, critical raw materials are used in everything from solar panels to heat pumps to electric vehicles.
While aiming to move away from its reliance on China, the EU will also launch a select Critical Raw Materials Club in partnership with the United States, Canada and others to further strengthen the West in an increasingly volatile global environment. I am looking to build. .
European Commission President Ursula von der Leyen said: “We are stepping up cooperation with trusted trading partners globally and reducing current EU dependencies to just one or a few countries.” Stated.
The plan will have to be approved by the EU’s 27 member states and their parliaments, a process that is expected to take several months, possibly a year or more.
In order to achieve clean technology and strategic goals, the EU has spent decades preaching the free market economy gospel and is very much a key factor in achieving the goals the bloc must move to. We are making a major economic shift towards accepting flexible state aid rules and subsidies. From fossil fuels to green economy.
The Commission’s proposal states that “private funding alone is not sufficient and the effective deployment of projects along the value chains of critical raw materials may require public support, including in the form of state aid.” There is,’ he said.
He added that it had already adopted national aid rules “to allow member states to provide more flexible aid.”
“The aim is to further speed up and simplify the process by making calculations easier, simplifying procedures and speeding up approvals,” the commission said.
A significant raw material plan will be followed by a plan for the Net Zero Industry Act on industry incentives.