EU Leaders Seek Critical Mineral Access from China Amid Trade Tensions

European Union leaders are gearing up for crucial negotiations with China, aiming to secure better access to rare earths and critical minerals, sources familiar with the plans have revealed. The upcoming summit, set for July 24-25 in Beijing, comes amid a backdrop of ongoing trade disputes and tariff-related issues between the two sides.

China, which holds a near monopoly on rare earth production, has tightened export controls following U.S. tariffs, posing challenges for industries reliant on these materials. As European automakers express concerns over potential production delays, EU leaders plan to address these issues directly with Chinese President Xi Jinping and Premier Li Qiang.

Despite China's promise to expedite rare earth licences for EU firms, progress has been slow. Meanwhile, the EU and China remain locked in various trade conflicts, with Brussels seeking to differentiate its relations from those of the U.S. as the summit approaches.

(With inputs from agencies.)