China to ease export restrictions to India
Chinese Foreign Minister Wang Yi reportedly made the assurance during talks with Indian Foreign Minister S. Jaishankar, according to the ANI news agency.
The development was also confirmed by RT sources in the Indian government. The Economic Times reported that Wang told Jaishankar that Beijing had already started responding to Indian requests on the three export categories. The outlet also said that shipments have already begun.
Wang is currently on a three-day visit to New Delhi, where he will hold border talks with Indian National Security Adviser Ajit Doval and meet Prime Minister Narendra Modi.
China, the world's largest producer of rare earth magnets, announced restrictions in April on exports of seven medium-to-heavy rare earth products and some magnets. This has affected supply chains that are critical for the aerospace, automobile, and semiconductor industries.
Indian media outlets have also reported that Beijing has restricted the export of fertilizers and tunnel-boring machines to the South Asian country, affecting agriculture and infrastructure projects.
On Monday, Jaishankar told Wang that India wanted a 'stable, cooperative, and forward-looking relationship' with China.
Asia's two largest countries are also looking at broadening their economic cooperation at a time when both face steep tariffs from the US.
In a veiled reference to US President Donald Trump's tariffs, Wang told Jaishankar that the world is currently experiencing rapid changes, with unilateral bullying on the rise and free trade and the international order facing significant threats, according to a report by the Xinhua news agency.
Wang also called on India and China to demonstrate a sense of global responsibility, act as major powers, and contribute to promoting a multipolar world, according to the report.
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