China Lifts Exports of Rare-Earth Products After Trade War Curbs
Customs data released Friday show exports of all rare-earth products rose 80% from a five-year low in May, when the country was in the midst of implementing sweeping export controls. Magnets — a component central to recent trade tensions — typically form the bulk of the 'products' category, but detailed export data on those won't be available until Sunday at the earliest.
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Europe and China holding scaled-back trade talks with expectations low for major agreements
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China has become a major customer for Russian oil and gas, and a source of key technologies following sweeping Western sanctions on Moscow. In May, Xi attended a Victor Day celebration alongside Putin in Moscow, but didn't attend a similar EU event in Brussels celebrating the end of World War II. Von der Leyen and Costa will press Xi and Li to slash their support of Russia, but with likely little effect. Beyond Beijing and Washington Buffeted between a combative Washington and a hard-line Beijing, the EU has more publicly sought new alliances elsewhere, inking a trade pact with Indonesia, heaping praise on Japan and drafting trade deals with South America and Mexico. 'We also know that 87% of global trade is with other countries — many of them looking for stability and opportunity. That is why I am here for this visit to Japan to deepen our ties,' Von der Leyen said in Tokyo during an EU-Japan summit on her way to Beijing. 'Both Europe and Japan see a world around us where protectionist instincts grow, weaknesses get weaponized, and every dependency exploited. So it is normal that two like-minded partners come together to make each other stronger." Promoting ties with Europe is one third of Japan's new 2025 military doctrine, after sustaining defense links with the U.S. and investing in capabilities at home like missiles, satellites, warships, and drones. ___ Mark Carlson contributed to this report. Sam Mcneil, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
