European trade commissioner, Maros Sefcovic, said that G7 finance ministers are arranging for a video call “pretty soon” to discuss the matter with it being a “critical concern”. Sefcovic also mentioned that he will discuss the issue with US commerce secretary, Howard Lutnick, and will speak to his Chinese counterpart as early as next week.
Meanwhile, Danish foreign minister Lars Rasmussen said that they could possibly look to team up with the US to turn the tables on China:
“We also need to be realistic. This is actually an area of common interest with our friends in the U.S. If we stick together we can much better pressure China to act in a fair way.”
Well, the clock is ticking. But in the meantime, China will have no issues in returning to the more stringent process of allowing for rare earth exports as they had done back in April.
