Xi, Donald Trump and China
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China has agreed to fast-track approvals for the shipment of rare earth minerals to the United States and some European Union nations.
China on Saturday said it had granted approval to some applications for the export of rare earths, in a move that comes just ahead of fresh trade talks between Chinese and U.S. officials on Monday. China's strict export controls over rare earths has been a flashpoint in trade relations with the U.
1don MSN
China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions.
Options include moving car part manufacturing to China despite tariffs, or just slowing down the push for electric vehicles.
The approval was granted considering rising global demand for medium and heavy rare earth elements driven by industries such as robotics and new energy vehicles, a spokesperson of the Ministry of Commerce said.
China has signalled for more than 15 years that it was looking to weaponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise.
China’s new restrictions on rare earth exports have caused significant supply chain disruptions and price instability in global markets, impacting industries like automotive, renewable energy, and defense.
China has approved temporary export licenses to rare-earth suppliers of the top US automakers, Reuters reported on Friday, citing unidentified people familiar with the matter.
Major manufacturers, fearful they will have to shut down assembly lines, are considering moving some production of parts to China.
China has approved limited export licenses for rare earth metals amid surging global demand from industries like robotics and electric vehicles
4don MSN
Germany's auto lobby warned China's export restrictions on rare earths, used in everything from windshield-wiper motors to anti-lock braking sensors, could soon cause production outages, the latest industry group to sound the alarm over delays to supply.