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Market Chatter: EU Said Planning New Rules on Critical Components Supply to Cut China Reliance

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The European Commission is reportedly drafting a new law to cap what can be bought from a single critical components supplier to 30% to 40%.

The plan, said to support the bloc's hopes to reduce dependence on China, will require European companies to source components from at least three suppliers from different countries, London's Financial Times reported Monday, citing two officials familiar with the matter.

"On 29 May, the European Commission will hold an orientation debate on EU-China relations. Orientation debates are a regular practice... By their nature, we do not comment on the internal discussion or on any details in that regard, but we can confirm that such debates do not involve the adoption of formal proposals," a spokesperson for the commission toldin response to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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