Financial Times: EU Plans to Force Companies to Reduce Reliance on Chinese Supply Chains

AI Summary (NQ-processed)

According to the Financial Times, the EU is drafting plans that could compel European companies in key sectors like chemicals and industrial machinery to source critical components from at least three different suppliers. This new rule, which would cap procurement from a single supplier at around 30-40%, aims to reduce the bloc's dependency on China and counter Beijing's export controls and 'weaponization of trade'.