Overview
- After talks in Busan, Presidents Donald Trump and Xi Jinping agreed to delay China’s October 9 rare‑earth export controls for one year, with the United States also postponing some planned measures.
- China’s export restrictions imposed in April remain in force, so licensing requirements and tighter rules on medium and heavy rare earths still apply.
- India’s foreign ministry confirmed that some firms obtained Chinese licenses to import rare‑earth magnets, with reports naming Hitachi, Continental India, Jay Ushin and DE Diamond under conditions barring re‑export to the U.S. and military use.
- Shares of U.S.-listed rare‑earth miners rose after the announcement, reflecting expectations of near‑term supply relief and clearer export flows.
- Analysts call the pause tactical rather than a policy reversal and urge accelerated diversification, citing U.S. efforts including Pentagon funding for MP Materials and new magnet production and recycling initiatives.