Overview
- Beijing will delay for one year the October 9 expansion that added more elements, magnets and related technologies to its export controls, while earlier restrictions continue.
- The United States agreed to hold off on some countermeasures, including a planned blacklist affecting majority‑owned subsidiaries of Chinese companies, under the understanding reached at the Busan APEC summit.
- U.S.-listed rare‑earth stocks jumped after the announcement, with Critical Metals, USA Rare Earth and Energy Fuels among the gainers.
- India confirmed that four firms received Chinese licences to import rare‑earth magnets under end‑use limits that prohibit re‑export to the U.S. and bar defense applications.
- Analysts describe the pause as tactical and urge diversification given China’s dominant role in mining and especially processing, as U.S. efforts continue with Pentagon backing for MP Materials and new magnet projects.