The European Union’s industry chief warned companies on May 22 to move faster in reducing reliance on China-dominated supply chains, speaking after a meeting of EU trade ministers in Brussels that focused on economic security, global supply-chain disruption, and diversification.
Stéphane Séjourné, the European Commission’s executive vice president for prosperity and industrial strategy, said companies should not depend on one country for all critical inputs. The Foreign Affairs Council meeting brought together EU trade ministers and senior officials from member states.
“Too few businesses in Europe integrate the geopolitical risk of supply chain risk into their thinking,” Séjourné said at a council press conference….
