BRUSSELS (Reuters) -The European Commission said on Tuesday it welcomed industry indications that China had engaged with EU companies to restore partial flow of chips, preventing a worst-case scenario and creating time and space to find a lasting solution. “We welcome the constructive approach shown by the Netherlands and China,” the EU executive said. It […]
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EU sees time and space to find Nexperia solution, with worst-case avoided
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BRUSSELS (Reuters) -The European Commission said on Tuesday it welcomed industry indications that China had engaged with EU companies to restore partial flow of chips, preventing a worst-case scenario and creating time and space to find a lasting solution.
“We welcome the constructive approach shown by the Netherlands and China,” the EU executive said.
It added that the Commission, led by EU trade chief Maros Sefcovic, would continue engagement to find a solution that restored functioning supply chains, while respecting EU economic security.
(Reporting by Philip Blenkinsop and Bart Meijer)