Beijing has agreed to fast-track approvals for rare earth export licences for some European companies after China’s strict controls on shipments of the critical minerals rocked global supply chains.
European officials and industry groups have complained that a new licence system for rare earths and related magnets, introduced in the wake of Donald Trump’s “liberation day” tariffs in April, risked causing widespread factory stoppages.
However, according to a statement published by China’s commerce ministry on Saturday, Beijing is now “willing to establish a green channel for qualified applications to speed up approval”.
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