EU Parliament Proposes Critical Raw Materials Agency to Cut China Dependence

The European Parliament is pushing for a dedicated agency to manage critical raw materials, aiming to reduce reliance on China for batteries, wind turbines, and defense inputs. The agency would build strategic reserves, coordinate joint purchases, and fund projects across the supply chain, backed by a €2 billion fund in the next EU budget. This marks a concrete step toward strategic autonomy, though the Commission's earlier proposal suggests institutional overlap and funding uncertainties remain.