Beijing says it granted approval to some applications for the export of rare earths, a move that could ease tensions before trade negotiations between the US and China next week.
The Chinese commerce ministry confirmed the approval of the applications without specifying which countries or industries were covered, even as it noted growing demand for the minerals in robotics and electric vehicles. The ministry will continue to review and approve compliant export applications, according to a statement on Saturday.
The confirmation comes days after the US and Chinese presidents spoke, following which Donald Trump said that there “should no longer be any questions respecting the complexity of Rare Earth products.” Delegations from Beijing and Washington are scheduled to meet in the UK to conduct trade negotiations on Monday.
China granted temporary export licenses to rare-earth suppliers of the top three US automakers, Reuters reported on Friday. The commerce ministry also said earlier Saturday it will speed up approvals for qualified rare earth exporters to Europe.
This story was originally featured on Fortune.com
Credit: Source link
