CRBC News
Economy

China Moves To Simplify Rare-Earth Export Licenses After Trump–Xi Talks

China Moves To Simplify Rare-Earth Export Licenses After Trump–Xi Talks

China announced it is streamlining export licences for rare earths, a pledge linked to a late-October meeting between Presidents Trump and Xi. Commerce Ministry spokesman He Yadong said authorities are "aligning themselves with general license mechanisms" as they reform the system. Reuters also reported that at least three rare-earth magnet makers secured licences to speed exports, though it remains unclear whether those licences were newly issued.

China Working To Streamline Rare-Earth Export Licenses

BEIJING, Dec 4 (Reuters) - China said on Thursday it is moving to simplify export licensing for rare earths, a step tied to commitments made after a recent meeting between U.S. President Donald Trump and Chinese leader Xi Jinping.

Commerce Ministry spokesman He Yadong told reporters at a regular weekly briefing that "the government is actively adapting" and that authorities are "aligning themselves with general license mechanisms" as they reform the licensing process.

Reuters reported on Tuesday that at least three Chinese producers of rare-earth magnets have secured licences that allow them to accelerate exports to some customers. He did not confirm whether those licences had been newly issued when asked by reporters.

China began designing the updated rare-earth licensing regime following a late-October meeting between the two leaders that eased trade tensions. Rare earths are important inputs for many high-tech and clean-energy applications, making any change to export rules closely watched by global industry and policymakers.

(Reporting by Beijing newsroom; Editing by Edwina Gibbs)

Similar Articles