Beijing has agreed to accelerate the approvals of rare earth export licenses for some European companies after China’s strict controls on the shipments of critical minerals shook global supply chains.
European officials and industry groups have complained that a new licensing system for rare earths and related magnets, introduced following the “day of release day” of Donald Trump in April, risked to cause generalized detention of factories.
However, according to a statement published by the Ministry of Commerce of China on Saturday, Beijing is now “willing to establish a green channel for qualified applications to accelerate approval.”
There were no details about how fast the process would be, or what is European companies would be included. A European Executive in Beijing, who asked not to be appointed, warned that manufacturers could still face delays in receiving their rare land shipments and Magnet in the short and medium term given the “enormous accumulation” or license requests.
The announcement followed a meeting between the Chinese Minister of Commerce, Webao and Maroš šefčovič, EU Commissioner for Commercial and Economic Security, in Paris last week.
Wang urged the EU to take effective measures to facilitate, safeguard and promote the compatible trade of high -tech products to China. ”
Beijing has been increasingly concerned that Europe has followed the restrictions led by the United States in semiconductor sales and joint manufacturing equipment to China.
On Friday, Trump said that a new high -level round of commercial conversations between the United States and China would take place on Monday in London, raiding the way for greater decalcalation in the commercial war between the two largest economies in the world.
The strange lands are just one of the many disputes between Brussels in Beijing. The parties also have legs in the conversations about China’s opposition to block tariffs on Chinese electric vehicles, as well as Beijing’s tariffs about the French cognac.
According to the Ministry of Commerce, discussions on the prices of Chinese electric vehicles sold in the block have entered “the final stage” but more efforts were needed on both sides. “China plans to announce the result of their research on European imports of Brandy on July 5.
Beijing has tried to improve ties with Brussels since Trump returned to office, but EU officials said that, despite the warm words, so far there had been few conern commitments.
ŠEfčovič said Wednesday that he had pressed his Chinese counterpart about the delays of rare earths, which were slowing down the deliveries for manufacturers of a wide range of items, from cars to washing machines.
Financial Times reported Thursday that European companies had presented officials in Beijing to establish a special channel to accelerate export licenses for “reliable” companies.
On Friday, the European Chamber, a Beijing Lobby group, warned that although Beijing approved the necessary shipments urgently, progress “has not been enough” to avoid serious interruptions of the supply chain for many companies.
Jens Eskelund, the president of the Chamber, said the member companies “continued to fight” both with delays and with the lack of transparency.