98% of the special magnets needed for electric motors, wind turbines and armaments come from China.

Omissions

• The Commission's 98% figure refers specifically to rare earth permanent magnets (measured as a share of EU demand met by Chinese imports), not to all 'special magnets' in general.
• The magnesium share is source-dependent: the European Court of Auditors (cited by Euronews in February 2026) gives 97% of EU27 magnesium imports from China, while Eurostat's Statistics Explained gives 92% for magnesium imports — the speaker used the highest available estimate.
• The claim gives no reference year; the 98% magnet dependency has been stable in Commission and industry publications since at least 2021, so it is not a figure specific to 2026.

Sources

• PrimaryEuropean Commission — Rare earth elements, permanent magnets, and motors (DG GROW)"Of its total rare earth magnet demand, 98% is met by Chinese imports."
• PrimaryEurostat — International trade in critical raw materials (Statistics Explained)"For its imports of magnesium, the EU was extremely dependent on Chinese imports which made up 92% of all magnesium imports into the EU."
• SecondaryMERICS — China's rare-earths export controls hit EU rearmament"...EU imports 98% of these components from China." (referring to rare earth elements and permanent magnets used in defence components)
• SecondaryEuronews — EU's climate goals at risk without China's raw materials, EU auditors warn"China accounts for 97% of the EU27's imports of magnesium, which is used in hydrogen-generating electrolysers."