Overview

• China’s Ministry of Commerce says it has approved a certain number of rare earth export licenses and accelerated the review process under existing regulations.
• He Yadong, the ministry spokesperson, said Beijing is ready to enhance dialogue with importing countries to facilitate compliant shipments.
• President Trump announced that the US and China reached a framework agreement securing upfront shipments of full magnets and necessary rare earths pending final presidential sign-off.
• In April, China had restricted exports of seven heavy and medium rare earth elements, triggering slowdowns in electric vehicle and defense production lines.
• Countries including India and Vietnam are expanding domestic processing capabilities and seeking alternative suppliers to reduce reliance on China’s rare earth monopoly.