Latest news with #ChineseCommerceMinistry
Bloomberg
2 days ago
- Business
- Bloomberg
China Approves Some Exports of Rare Earths Ahead of US Talks
Beijing says it granted approval to some applications for the export of rare earths, a move that could ease tensions before trade negotiations between the US and China next week. The Chinese commerce ministry confirmed the approval of the applications without specifying which countries or industries were covered, even as it noted growing demand for the minerals in robotics and electric vehicles. The ministry will continue to review and approve compliant export applications, according to a statement on Saturday.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
China says it will speed up rare earths exports to EU firms
China suspended exports of a wide range of rare earths and related magnets last month. (EPA Images pic) SHANGHAI : China is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said today. Price commitment consultations between China and the EU on Chinese-made electric vehicles exported to the EU have also entered a final stage but efforts from both sides are still needed, according to a statement on the Chinese commerce ministry's website. The issues were discussed between Chinese commerce minister Wang Wentao and EU trade commissioner Maros Sefcovic in Paris on Tuesday, according to the statement. The comments mark progress on matters that have vexed China's relationship with the European Union over the past year. Most recently, China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The ministry said China attached great importance to the EU's concerns and 'was willing to establish a green channel for qualified applications to speed up the approval process'. Commerce minister Wang during the meeting 'expressed the hope that the EU will meet us halfway and take effective measures to facilitate, safeguard and promote compliant trade in high-tech products to China', according to the statement. Chinese anti-dumping measures that applied duties of up to 39% on imports of European brandy – with French cognac bearing the brunt – have also strained relations between Paris and Beijing. The brandy duties were enforced days after the European Union took action against Chinese-made electric vehicle imports to shield its local industry, prompting France's President Emmanuel Macron to accuse Beijing of 'pure retaliation'. The Chinese duties have dented sales of brands including LVMH's Hennessy, Pernod Ricard's Martell and Remy Cointreau. Beijing was initially meant to make a final decision on the brandy duties by January, but extended the deadline to April and then again to July 5. China's commerce ministry said today that French companies and relevant associations had proactively submitted applications on price commitments for brandy to China and that Chinese investigators had reached an agreement with them on the core terms. Chinese authorities were now reviewing the complete text on those commitments and would issue a final announcement before July 5, it said. In April, the European Commission said the EU and China had also agreed to look into setting minimum prices of Chinese-made electric vehicles instead of tariffs imposed by the EU last year. China's commerce ministry said the EU had also proposed exploring 'new technical paths' relating to EVs, which the Chinese side was now evaluating.
E&E News
19-05-2025
- Business
- E&E News
China puts anti-dumping duties on US engineering plastics
China on Sunday announced anti-dumping duties as high as 74.9 percent on imports of POM copolymers, a type of engineering plastic, from the United States, the European Union, Japan and Taiwan. The Chinese Commerce Ministry's findings conclude a probe launched in May 2024, shortly after the U.S. sharply increased tariffs on Chinese electric vehicles, computer chips and other imports, according to a statement from the ministry. POM copolymers can partially replace metals such as copper and zinc and have various applications, including in auto parts, electronics and medical equipment, according to the ministry. Advertisement The highest anti-dumping rates of 74.9 percent were levied on imports from the United States, while European shipments will face 34.5 percent duties, the ministry said.
