EU-China Collaboration Eases Chip Supply Strains

The European Commission has voiced its approval of China's recent moves to engage with EU companies, which have helped to alleviate concerns over chip shortages. Industry signals suggest China is working to partially restore chip supply, averting a potential worst-case scenario that could impact global supply chains.

The EU acknowledged the constructive dialogue facilitated by the Netherlands and China, highlighting the importance of international cooperation in tackling such critical issues. The Commission noted that these efforts are crucial to maintaining a stable supply of chips essential for numerous industries across Europe.

EU trade chief Maros Sefcovic emphasized that the Commission would persist in its efforts to secure a long-term solution. The goal is to re-establish uninterrupted supply chains while safeguarding the region's economic security, showcasing the EU's commitment to collaborative problem-solving on a global scale.