The White home reported on Sunday that China decided to abolish the export control of uncommon earth elements. They issued alleged general licenses, allowing the sale of natural materials specified as gal, german, antimony, tungsten and graphite to the US, including US producers and their suppliers.
According to the White House, the agreement is intended to guarantee that American companies have unchangeable access to materials essential for the production of advanced technologies. China is to benefit from the reopening of the marketplace to its agricultural products and another export goods. Under the agreement, Beijing besides committed to halting exports of fentanyl precursors, easing restrictions on US semiconductor companies and expanding purchases of American agricultural products.
According to UPI, the Chinese Ministry of Commerce announced on Sunday a suspension of the ban on the export of certain uncommon earth metals to the US, which is linked to an effort to alleviate commercial tensions. These metals are crucial in the production of advanced semiconductors, explosives and anti-tank ammunition. China has a dominant position on the planet marketplace for these natural materials.
Beijing's export ban was introduced in December 2024, even before president Donald Trump's second word of office began, “to defend national safety and national interests and to meet global obligations specified as non-proliferation of atomic weapons”.
According to the latest GOC communication, the export ban on 5 metals will be suspended until 27 November 2026. This decision came after president Trump's October gathering with Chinese president Xi Jinping in South Korea. Both parties considered this a step towards stabilising trade relations after respective years of tension.
"China's Sunday message did not mention to the wider trading framework or the general licenses described by the White House. Instead, it was only stated that the suspension of the export ban of 2024 would apply for a year, which is simply a discrepancy in the US and Chinese contract terms," UPI noted.
Source: PAP
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