US customers should get Chinese rare earth permits more easily after trade truce: Reuters
- The US and China announced a 90-day trade truce on Monday aimed at easing restrictions on rare earth mineral exports to the US.
- China imposed export licenses in 2023 on rare earth minerals as retaliation against sweeping US tariffs imposed by President Donald Trump.
- China dominates global rare earth supply, accounting for over 60% of mining and nearly all processing, affecting sectors like chipmaking and clean energy worldwide.
- Industry sources told Reuters that permit approvals typically take 45 days but may accelerate soon, with Tesla seeking licenses for rare earths to build Optimus robots.
- The trade truce may facilitate quicker export permits for US companies, though a full removal of restrictions remains unlikely, and strategic mineral stockpiles are developing in allied countries.
11 Articles
11 Articles
US customers should get Chinese rare earth permits more easily after trade truce, say sources
Rare earth export permits for U.S. customers are likely to have an easier time getting approval from Beijing after Monday's trade war truce, however a complete removal of the restrictions is unlikely, according to two sources in the industry in China.
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