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EU aims to cut reliance on China for chips and pharmaceutical materials

The European Union aims to cut its dependency on Chinese and other foreign suppliers in six strategic areas including raw materials, pharmaceutical ingredients and semiconductors, under an industrial action plan to be announced next week.A draft seen by Reuters outlined the urgency of the task ahead, citing Europe’s reliance on China for about half of 137 products used in sensitive ecosystems, mainly raw materials and pharmaceuticals and other products key to the bloc’s green and digital goals…

Source: EU aims to cut reliance on China for chips and pharmaceutical materials

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