The end of China's dictatorship? Italy and Germany want international controls on raw material prices

The head of Italian diplomacy, Deputy Prime Minister Antonio Tajani, said on Friday in Rome that Italy and Germany support an international agreement on commodity price controls to limit China's influence. Tajani and German Foreign Minister Johann Wadephul emphasized the need to strengthen the EU's competitiveness.

During the Italian-German business forum in the Eternal City, organized in connection with the intergovernmental summit, Minister Tajani admitted:

– We cannot accept a situation in which China alone decides on the prices of raw materials.

He expressed hope that other countries would also share the Italian position on raw materials.

The document signed by Tajani and German Foreign Minister Johann Wadephul emphasized: “Increasing the EU's competitiveness is and remains an absolute priority for Italy and Germany.”

Ministers noted that both countries are the two main industrial economies in Europe.

“They share a common interest in strengthening their industrial base through more robust and diversified supply chains, promoting economic partnerships through EU trade agreements, as well as cooperation with third countries on critical raw materials and joint ventures in third countries for (such) raw materials,” the document says.

It also noted: “Securing the supply of critical minerals (…) is a common challenge that Italy and Germany are committed to tackling, strengthening cooperation both bilaterally within the EU and with our transatlantic allies and international partners, in close cooperation with our industry – both within the EU and across the Atlantic.”

Minister Tajani assured that there is a strong, solid partnership between Italy and Germany, focused on the future.

– We have an obligation to support an industrial policy that will promote development, competitiveness and trade policy – he said.

Wadephul emphasized after the talks that Italy and Germany want a strong EU and stable relations with the United States.

– The challenges we face are huge and Europe speaks with one voice here, just like in the case of support for Denmark and Greenland – said the head of German diplomacy. (PAP)

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