Latest news with #exportlicenses
Wall Street Journal
12 hours ago
- Automotive
- Wall Street Journal
Beijing Puts Six-Month Limit on Its Ease of Rare-Earth Export Licenses
China is putting a six-month limit on rare-earth export licenses for U.S. automakers and manufacturers, according to people familiar with the matter, giving Beijing leverage if trade tensions flare up again while adding to uncertainty for American industry. Chinese negotiators agreed to the temporary restorations of the licenses after the latest round of talks with their American counterparts in London after two days of intense talks, aimed at upholding an interim agreement forged in Geneva last month.
Reuters
a day ago
- Business
- Reuters
JL MAG Rare-Earth says it obtained export licenses for rare earth products to US, Europe
BEIJING, June 11 (Reuters) - Chinese rare earth permanent magnet producer JL MAG Rare-Earth ( opens new tab on Wednesday said it has obtained export licenses issued by Chinese authorities for exports of rare earth products to regions including the U.S., Europe and Southeast Asia. The company applied for export licenses after China announced a decision to curb exports of rare earths products in April, and the applications are being approved "in succession", the company said in a post on the official investor relations platform for the Shenzhen stock exchange.
Yahoo
a day ago
- Business
- Yahoo
JL MAG Rare-Earth says it obtained export licenses for rare earth products to US, Europe
BEIJING (Reuters) -Chinese rare earth permanent magnet producer JL MAG Rare-Earth on Wednesday said it has obtained export licenses issued by Chinese authorities for exports of rare earth products to regions including the U.S., Europe and Southeast Asia. The company applied for export licenses after China announced a decision to curb exports of rare earths products in April, and the applications are being approved "in succession", the company said in a post on the official investor relations platform for the Shenzhen stock exchange. 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
Reuters
6 days ago
- Automotive
- Reuters
Exclusive: China issues rare earth licenses to suppliers of top 3 US automakers, sources say
BEIJING/WASHINGTON, June 6 (Reuters) - China has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter said, as supply chain disruptions begin to surface from Beijing's export curbs on those materials. At least some of the licenses are valid for six months, the two sources said, declining to be named because the information is not public. It was not immediately clear what quantity or items are covered by the approval or whether the move signals China is preparing to ease the rare-earths licensing process, which industry groups say is cumbersome and has created a supply bottleneck. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with U.S. President Donald Trump. China produces around 90% of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts. Suppliers of three big U.S. automakers, General Motors, (GM.N), opens new tab, Ford (F.N), opens new tab and Jeep-maker Stellantis ( opens new tab got clearance for some rare earth export licenses on Monday, one of the two sources said. GM and Ford each declined to comment. Stellantis said it is working with suppliers "to ensure an efficient licensing process" and that so far the company has been able to "address immediate production concerns without major disruptions." China's Ministry of Commerce did not immediately respond to a faxed request for comment. China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions. On Thursday, Trump and Chinese President Xi Jinping had a lengthy phone call to iron out trade differences. Trump said in social-media post that "there should no longer be any questions respecting the complexity of Rare Earth products." Both sides said teams will meet again soon. U.S. auto companies are already feeling the impact of the restrictions. Ford (F.N), opens new tab shut down production of its Explorer SUV at its Chicago plant for a week in May because of a rare-earth shortage, the company said. The approval for the auto suppliers follows a green light granted to a U.S. electronics firm's suppliers last week and another one issued earlier this week to suppliers of a U.S. non-auto company, the first person said, declining to name the companies. "We have to give the Chinese the benefit of the doubt that they're working through this. It's up to them to show that they are not weaponizing it," said the person. Reuters reported on Wednesday that China has introduced a tracking system for its rare earth magnet sector in a move to improve its control over the sector and crackdown on smuggling.
New York Times
6 days ago
- Business
- New York Times
China Allows Limited Exports of Rare Earths as Shortages Continue
China's Ministry of Commerce has started issuing more export licenses for shipments of rare earth magnets this week, but the pace remains slow and China appears committed to the licensing requirements introduced two months ago. Many factories in the automotive sector and other industries in Europe and the United States, and a few in Japan, are running low on the magnets. China makes 90 percent of the world's supply of these magnets, which are essential for cars, drones, factory robots, missiles and many other technologies. After a lengthy call on Thursday with Xi Jinping, China's top leader, President Trump wrote on social media that the two men had discussed rare earths. Mr. Trump mentioned that rare earths were a complex subject but did not indicate whether anything had been decided about China's strict export licensing requirement, which Beijing imposed on April 4. The presidents agreed that their senior aides would meet soon for further discussions. China's statement about the call did not mention rare earths. Lin Jian, a spokesman for China's foreign ministry, declined to answer a question about the minerals on Friday at the ministry's daily briefing, saying that it was a matter for other agencies. On Thursday, the Ministry of Commerce said only that it would issue export licenses according to its new rules. The American and European chambers of commerce in China each said on Friday that somewhat more export licenses had been issued in recent days. But both groups emphasized that more were needed, as the Ministry of Commerce faces a huge backlog of detailed applications for licenses. Jens Eskelund, the president of the European Union Chamber of Commerce in China, called for more exports from China. 'Our members are still struggling with the export license approval process, due to both the time it takes and the lack of transparency, and this is now negatively impacting production lines in Europe and other countries,' he said in a statement. Want all of The Times? Subscribe.
