BEIJING, Dec 4 (Reuters) – China said on Thursday it is issuing streamlined rare earth export licenses – a key promised outcome after a meeting between U.S. President Donald Trump and his counterpart 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.
“China has been actively making use of general licenses and other facilitation measures to promote compliant trade in dual-use items,” state news outlet Xinhua said on Thursday, quoting a Commerce Ministry weekly briefing.
Reuters reported on Tuesday that at least three Chinese rare earth magnet makers had secured licenses enabling them to accelerate exports to some customers.
“As long as export license applications for rare earth-related items are for civilian use, the government has given timely approval,” Commerce Ministry spokesman He Yadong told reporters at the weekly briefing.
The new general licenses 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.
(Reporting by Beijing newsroom; Editing by Edwina Gibbs and Philippa Fletcher)
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