China sets 6-month limit on rare earth export licenses for US, WSJ reports
A leading US newspaper says China is imposing a six-month limit on rare-earth export licenses for US automakers and manufacturers.
China's export restrictions on rare earth metals and US control on semiconductor-related exports were believed to be among the top agenda items during two days of trade talks in London that ended on Tuesday.
Both sides said they agreed on a framework to implement the consensus reached during discussions last month in Geneva.
On Wednesday, US President Donald Trump posted on social media, "ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA."
The Wall Street Journal quoted sources familiar with the trade talks as saying that, in exchange for China easing rare earth curbs for now, US negotiators agreed to relax some recent restrictions on the sale to China of items such as jet engines and related parts, as well as ethane. Ethane is used to manufacture chemical products.
The newspaper said that China's "six-month limit illustrated how each side is retaining the tools to easily escalate tensions again."
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