BEIJING: China's Commerce Ministry confirmed on Thursday (December 18) that it had granted several general licences for exporting rare earths, a new category of permit that aims to speed up shipments of the vital elements.
AI Brief
It was also a key promised outcome following a meeting between U.S. President Donald Trump and China's Xi Jinping that eased trade tensions between the two superpowers.
Beijing added several rare earth elements and magnets to its export control list in early April, requiring a dual-use license for exports. China's exports of rare earth magnets slumped in April and May, forcing some global automakers to shutter parts of production.
The new general licences are designed to allow more exports under year-long permits for individual customers, Reuters reported in early November.
But they will not replace the existing dual-use licensing regime and only large Chinese rare earth companies are currently eligible for them.
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AI Brief
- China adds rare earth elements and magnets to export controls, causing supply disruptions for automakers in April and May.
- New general licenses allow year-long permits for major firms but do not replace strict dual-use licensing rules.
- Move follows Trump-Xi talks aimed at easing trade tensions between the US and China.
It was also a key promised outcome following a meeting between U.S. President Donald Trump and China's Xi Jinping that eased trade tensions between the two superpowers.
Beijing added several rare earth elements and magnets to its export control list in early April, requiring a dual-use license for exports. China's exports of rare earth magnets slumped in April and May, forcing some global automakers to shutter parts of production.
The new general licences are designed to allow more exports under year-long permits for individual customers, Reuters reported in early November.
But they will not replace the existing dual-use licensing regime and only large Chinese rare earth companies are currently eligible for them.
Your gateway to global news, insights, and stories that matter.
