China’s Ministry of Commerce has started issuing more export licenses for shipments of rare earth magnets in recent days, but the pace remains slow and China appears committed to keeping licensing requirements introduced two months ago.
Many factories in the automotive sector and other industries in Europe and the United States, and a few in Japan, are running low on the magnets. China makes 90 percent of the world’s supply of these magnets, which are essential for cars, drones, factory robots, missiles and many other technologies.
After a 90-minute call on Thursday with Xi Jinping, China’s top leader, President Trump wrote on social media that the two men had discussed rare earths. Mr. Trump mentioned that rare earths were a complex subject but did not indicate whether anything had been decided about China’s strict export licensing requirement, which Beijing imposed on April 4.
Mr. Trump wrote on social media on Friday that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and United States Trade Representative Jamieson Greer would hold further economic talks on Monday in London with top Chinese officials.
When Mr. Trump was asked later on Air Force One whether Mr. Xi had agreed to allow rare earth minerals and magnets to flow to the United States, Mr. Trump replied, “Yes, he did,” but did not elaborate.
China’s statement on Thursday about the call did not mention rare earths, however. Lin Jian, a spokesman for China’s foreign ministry, declined to answer a question about the minerals on Friday at the ministry’s daily briefing, saying that it was a matter for other agencies. The Ministry of Commerce said on Thursday, before the two leaders spoke, only that it would issue export licenses according to its new rules.
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