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Business Standard
10-07-2025
- Business
- Business Standard
Ahead of Beijing summit, EU seeks to slash rare earth reliance on China
The European Union is under increasing pressure to reduce its dependence on China for rare earth elements, as tensions rise ahead of the upcoming EU-China summit. Lawmakers warn that Europe is vulnerable to geopolitical and trade pressures due to its near-total reliance on Chinese supplies, the South China Morning Post reported. The report quoted Bart Groothuis, a Member of the European Parliament representing the Renew Europe group, as saying that Europe is facing pressure on two fronts — from Trump's tariffs and, more critically, from China's strategic grip on rare earth. This is not just a side effect of the US-China conflict, but rather a deliberate move aimed at Europe, Groothuis said. EU's dependence and diversification challenges According to EU data, the bloc imports all of its rare earths and 97 per cent of its magnesium from China. Renew Europe has urged the EU to diversify its sources, warning that the current dependence exposes Europe to 'blackmail', the news report said. Analysts acknowledge the concern but say a shift away from China will take time, the news report said. Recycling efforts and long-term strategies One effort to build self-sufficiency is a rare earth recycling plant being set up in Lacq, France, by Carester founder Frederic Carencotte. The facility, expected to start operations by 2026, aims to produce 700 tonnes annually — far short of the 12,900 tonnes imported in 2024. Belgium-based Solvay also processes rare earths in France but depends on its Chinese site in Liyang. Meanwhile, trade deals for alternative sources, such as with South America's Mercosur bloc, are slow to finalise, the South China Morning Post reported. Chinese Foreign Minister Wang Yi recently said that rare earth exports have not been a problem in China-EU ties and introduced a fast-track channel for European companies. Yet, experts believe full independence from China is unlikely. 'We can reduce dependence, but we cannot get around it entirely,' Goerg said. China threatens retaliation over Trump's tariff move On Tuesday, China issued a warning to the Trump administration against reviving trade tensions by reinstating tariffs on Chinese goods next month. Beijing also threatened to retaliate against countries that enter supply chain deals with the United States aimed at sidelining China, news agency Reuters reported. In June, Washington and Beijing reached a trade framework that restored a fragile truce. However, with key details still unclear, investors and traders remain cautious about whether the agreement will hold or collapse into renewed conflict. On Monday, US President Donald Trump began notifying trade partners about steep US tariffs that will take effect from August 1. This follows his earlier decision to delay most of the duties announced in April, offering countries time to negotiate new deals with the US. China, which was targeted with tariffs over 100 per cent in earlier rounds, has until August 12 to reach a settlement with the White House. Failure to do so could lead to the reinstatement of previously suspended import restrictions. India to boost rare-earth magnet production Meanwhile, India is preparing to launch an incentive programme worth up to ₹25 billion to encourage domestic production of rare-earth magnets, vital for electric vehicles and wind turbines, Bloomberg reported. The Vedanta Group, JSW Group, and Sona BLW Precision Forgings Ltd are among companies expressing early interest. The policy is expected to be submitted for cabinet approval soon.
Euronews
08-07-2025
- Politics
- Euronews
EU Parliament confidence vote: Where parties stand on von der Leyen
The majority of the political groups of the European Parliament will not back the vote of no-confidence tabled against von der Leyen's European Commission, but even those from the coalition that voted her into office last year reproached her leadership, and some groups are split over how to vote. After the debate held in the hemicycle on Monday, some of the eight groups of the Parliament clearly staked their position ahead of the vote, while others were more ambiguous, and not all MEPs align with their groups. The European People's Party (EPP), Ursula von der Leyen's political force, is fully behind her. "We will vote unanimously against", said Manfred Weber, chair of the group. The EPP has painted the vote as the emanating from far right MEPs friendly to Russian President Vladimir Putin. "With this motion of censure, we are wasting time: Putin will be happy of what his friends are doing here. I know the German AfD (Alternative for Germany) and the Romanian AUR (Alliance for Unity of Romanians) are the puppets of Putin. This motion of censure is against the security of the Europeans," Weber said during the debate. Criticism of von der Leyen on display Socialists and democrats (S&D), Renew Europe and Greens/EFA groups have also said they will not vote to censure, but that didn't stop their chairs criticising von der Leyen for treating with the right wing parties, ignoring important policy files and leading the Commission with an extremely centralised and opaque working style. 'This motion will not count with the vote in favour of my group. We will not give a single vote to those who want to destroy the European Union,' said S&D leader Iratxe García Pérez, describing the motion of censure as a "reactionary assault". But García Pérez also blamed von der Leyen for backsliding on the Green Deal when she allied with conservatives to withdraw the Commission's controversial directive on green claims, which is meant to address greenwashing. Besides, not supporting the motion does not necessarily equate to a pledge that the Socialists will vote against it. According to sources from the Parliament, the group's members could also abstain. "We have not decided yet, we will discuss the issue in the next days before the vote," S&D Belgian MEP Estelle Ceulemans told Euronews after a group internal meeting. Renew Europe also clearly stated that it opposed the motion of censure. "The motion itself shows the bad intentions of the signatories: a mishmash of allegations on Pfizer text messages, the spending of the Recovery Facility, defence plans and supposed election interference," a statement from the group read. Renew Europe's president, Valérie Hayer, doubled down on this during her intervention, but she too took the opportunity to take a swipe at von der Leyen. "The Commission is too centralised, too fossilised", she said. The Greens/EFA group is set to reject the motion of censure, with all its MEPs voting against, abstaining, or not showing up on the day of the vote, according to internal sources. The leader of the group, Bas Eickhout called the motion 'one big political show of the far-right to undermine democracy.' But he also lashed out at recent tie ups over voting between the EPP and the far-right. 'You are feeding that beast, and at a certain moment the beast will eat you,' Eickhout said, directing his glance at EPP President Weber. The Left's co-President Martin Schirdewa said his group opposes the motion of censure because it refuses "to be instrumentalised by right-wing extremists". But others within the group don't appear to be on the same page. The Italian Five Stars Movement, for example, will vote in favour: "Millions of citizens who believe in the EU, in democracy and in social justice are asking us today to send von der Leyen home", a statement from the party said. The Left's Irish MEPs are also set to vote in favour, according to Parliament sources. Conservatives split on the vote, far right united The European Conservatives and Reformists (ECR) illustrate this shaky group dynamic more clearly: some of its members proposed and actively promoted the vote of confidence, while others are set to defend the Commission. Officially, the group will leave its lawmakers to follow their consciences with a free vote, and the largest national delegations are in opposite camps. Romanians from ultra-nationalist party AUR and Polish from Law and Justice (PiS) are among the signatories of the motion of censure, consistently with a long tradition of hard criticism against von der Leyen and her college. On the other side, the members of Brothers of Italy will not vote in favour of the motion, as this would entail the resignation of all Commissioners, including Italy's Raffaele Fitto, Commission Executive Vice-President for Cohesion and Reforms, who comes from the party's ranks. "This motion is doomed to failure, not even getting close to the required threshold [to topple the Commission]. This is a gift to our political opponents," ECR co-chair Nicola Procaccini said during his intervention. Patriots for Europe (PfE) and Europe of Sovereign Nations (ESN), the two more radical right groups in the Parliament, will vote in favour of the motion, requesting the Commission to resign. "The Pfizergate has been an abuse of power: you have acted alone, out of any democratic framework", Fabrice Leggeri, a French National Rally MEP, said during the debate, while ESN's leader René Aust from Alternative for Germany, said his group intended to send von der Leyen "to an undeserved retirement". A symbolic vote The vote of no-confidence has very little chance of being approved, as at least two-thirds of the votes cast representing a majority of all MEPs would need to back the motion of censure for it to be adopted. But Monday's debate gave an indication of the level of distrust for Von der Leyen in the parliament, regardless of MEP's political affiliation. The parties from the so-called "centrist majority" (EPP, S&D, Renew Europe) are split on the assessment of the Commission's track record so far. While the EPP group fully endorses von der Leyen's political line (and is probably also behind it), Socialists and liberals are at odds with it, signalling that the coalition which saw von der Leyen voted in as President of the Commission one year back is on shaky ground. In this respect, S&D's leader García Pérez addressed EPP President Weber at the end of her intervention: "This motion is the direct result of your strategy in the Parliament. You are asking for responsibility while you negotiate your policies with the far right. We cannot go on like this," she said. The vote on the motion on Thursday 10 will probably testify to the level of discontent. A large number of abstentions might save the necks of the Commissioners, but also simultaneously inflict a political flesh wound on von der Leyen.
BreakingNews.ie
07-07-2025
- Business
- BreakingNews.ie
'Now is the time to defend food security', says Irish MEP ahead of CAP vote
A key vote on the future direction of the Common Agricultural Policy (CAP) will take place later today in the European Parliament's Committee on Agriculture and Rural Development (AGRI). It marks a critical step in setting out the Parliament's political priorities ahead of the European Commission's proposals for the post-2027 CAP later this month. Advertisement The report, led by Spanish EPP MEP Carmen Crespo Diaz, outlines the Parliament's vision for the CAP in the next Multiannual Financial Framework (MFF). Fianna Fáil MEP for Midlands North-West, Barry Cowen, served as lead negotiator for the Renew Europe Group. The vote comes amid growing debate in Brussels over the future structure and financing of EU agriculture policy. The report strongly defends a ring-fenced CAP budget and argues that food security must be treated as a pillar of EU strategic autonomy. It stresses that the CAP should remain a standalone EU policy and not be folded into a broader national funding envelope. 'Secure and constant access to food has become a matter of strategic security,' the text notes. Advertisement In terms of content, the report calls for better environmental rewards for farmers, a clearer approach to generational renewal, and urgent simplification to reduce bureaucracy. 'Farmers must be properly rewarded for their environmental contributions,' it states, while urging that eco-schemes be made 'simpler and more flexible". It also proposes the continuation of direct payments, including to part-time and small-scale farmers. Notably, the report repeats the Parliament's call for 'impact assessments that take into account farm-level implications' before introducing new requirements. It urges the Commission to cut red tape and simplify access to support through a 'CAP one-stop-shop' – a key ask from recent farmer protests across Europe. Speaking before the vote, Barry Cowen MEP said: 'This is my first report as a lead negotiator for Renew Europe and I'm pleased to have helped shape a strong, constructive text that reflects the real concerns of farmers across the Midlands North-West, Ireland and Europe Advertisement 'The process – meeting hundreds of stakeholders across Europe before engaging in detailed technical and political negotiations – is one I relished and look forward to repeating many times. 'While not every proposal I put forward in my recent position paper on the future of European agriculture made it into the final version, I'm satisfied that a large number of my key asks are reflected – particularly on food security, stronger environmental rewards for farmers and the simplification agenda. 'This vote, I hope, will send a clear message to the Commission ahead of its upcoming MFF and CAP proposals: agriculture is not a footnote to Europe's security – it's central to it. If we want more from our farmers, we must match that with more meaningful support." Mr Cowen added: 'Too often, farmers have been caught between rising expectations and falling incomes. The next CAP must reset that imbalance with clear schemes, fairer payments and a structure built to last. Advertisement 'Dismantling the CAP's ring-fenced budget would be a historic mistake. Farmers need predictability, not political games. Equally, however, I will not be distracted by debate around the CAP's structure and will not accept stagnant funding even if the current format is retained. 'Without an inflation adjustment, the CAP's real value could shrink by 54 per cent by 2034 - an effective €250 billion shortfall. A secure, increased CAP budget is the only way to secure the future of European agriculture and that message will be sent loud and clear to the Commission today.'
BreakingNews.ie
05-05-2025
- Business
- BreakingNews.ie
Irish MEP argues food security must be 'pillar of Europe's defence'
Fianna Fáil MEP Barry Cowen has unveiled a new position paper outlining his vision for the future of European farming and the next Common Agricultural Policy (CAP) post-2027. In the paper, seen by Mr Cowen argues that in a new era of heightened security concerns, food security must be recognised as a core pillar of Europe's strategic defence, with agriculture "deserving a protected share of broader security spending". Advertisement The European Multiannual Financial Framework (MFF) for 2028 to 2034 should include increased CAP funding, Mr Cowen says in the report. "Announced by President von der Leyen, the ReArm Europe Plan alone allows for spending of over €800 billion by Member States and could see joint borrowing of up to €150 billion. These measures are aimed at reinvigorating the European defence sector and preparing for a worst-case scenario through stockpiling and strengthening borders. "I regard these measures to be necessary, however, I also believe that the deep connection between food, food production, strategic autonomy and our collective security is being overlooked in the conversation." The paper was developed as part of Mr Cowen's role as Renew Europe's shadow rapporteur. Advertisement In the paper, seen by Mr Cowen argues that in a new era of heightened security concerns, food security must be recognised as a core pillar of Europe's strategic defence. Photo: PA Images Central to Mr Cowen's proposals is the creation of a third, standalone environmental pillar within CAP. This new pillar - backed by an increased CAP budget - would offer "meaningful rewards and incentives" to farmers who adopt voluntary environmental schemes and sustainable innovations. On rural development, Mr Cowen proposes stronger financial and policy tools to address generational renewal - an "existential threat" to farming and rural communities. His proposals include higher income support for young farmers, improved access to land and finance and stronger public-private innovation partnerships to drive sustainability and technology adoption. The paper further calls for major simplification across CAP delivery, advocating reduced administrative burdens and a shift away from the current "income foregone" payment model. He highlights that "excessive bureaucracy and a lack of practical usability were the number one issue raised with him by farmers during last year's European election campaign". Mr Cowen engaged with stakeholders across Europe including farmers, young entrants, producer organisations, innovators, environmental experts and policymakers.
Euronews
13-03-2025
- Business
- Euronews
Armenia and Azerbaijan have agreed to make peace
Armenian and Azerbaijani officials announced on Thursday that they had finalised the text of a peace agreement that aims to end the almost four-decade-long conflict between the South Caucasus nations. This is a major and surprising breakthrough in a peace process that has been stuck many times and proved difficult for a long time. The two post-Soviet states have been embroiled in hostilities since the late 1980s. Back then, Nagorno-Karabakh was a region of Azerbaijan with a predominantly ethnic-Armenian population which seceded from Azerbaijan. The dispute over this region led to multiple wars over the years, but the agreed-upon text now raises hopes for a lasting resolution to the longstanding conflict. The landlocked mountainous region of Nagorno-Karabakh was internationally recognized as part of Azerbaijan, but it had an ethnic Armenian majority who were backed by Armenia. This situation created tension between the two neighbours. Until recently, much of Nagorno-Karabakh was governed by the unrecognised "Nagorno-Karabakh Republic", also known as the "Republic of Artsakh". While Armenia never officially recognised the region's independence, it became its main financial and military backer, and the territory functioned as a de facto part of Armenia. After many years of pauses in fighting with occasional bursts of violence, Azerbaijani troops quickly took control of the area in September 2023 with the help of Turkish drones, defeating Armenian forces in a short battle. The majority of ethnic Armenians fled, and on January 1, 2024, "Nagorno-Karabakh Republic" was formally dissolved. The offices of two parliamentary assistants from the European People's Party and Renew Europe have been sealed by Belgian judicial authorities amid investigations on alledged bribes from Chinese tech company Huawei to influence EU decision-making. One belongs to the assistants of Marco Falcone (Italy/EPP), Paolo Campisi and Francesco Vasta. The other is the office of Adam Mouchtar, assistant to Nikola Minchev (Bulgaria/Renew Europe). Belgian authorities have accessed the offices of Falcone's assistants around 17:00 CET, for over an hour. As parliamentary assistants do not benefit from immunity, the European Parliament is not required to notify them before accessing their offices. The Parliament's press service told Euronews that they have received a request for cooperation from the Belgian authorities to assist the investigation. Following reports of an investigation into the Chinese tech giant on Thursday, Belgian police also searched the company's Brussels headquarters and other locations, making several arrests, according to prosecutors. As part of the operation, police searched 21 homes in Brussels, the Belgian regions of Flanders and Wallonia, and Portugal. They sought evidence of potential crimes, including bribery, forgery, money laundering, and involvement in a criminal organisation.
