BEIJING -- The Chinese government has issued licenses to companies to export rare-earth products to the U.S., Chinese news outlet Caixin reports, in a sign that shipments of the vital industrial metals will resume.
Certain rare earths had been subject to export restrictions. The restart of licensing is seen as an easing of tensions based on this week's agreement in U.S.-China trade talks.The Chinese government on April 4 imposed export restrictions on seven types of rare earths, including dysprosium and terbium, which are used in electric vehicles.Exports were permitted only with official approval. The export controls were part of China's retaliation for the Trump administration's "reciprocal" tariffs.
Three Chinese companies involved in the manufacture and sale of rare-earth-related products have received permission to export to the U.S. and Europe, Caixin reported Friday. The report named Volkswagen and Bosch as among the customers for one of the companies.
No American companies were named.At ministerial-level talks in Switzerland last weekend, the U.S. and China agreed to slash tariffs on each other's goods and to pause or end other retaliatory measures.
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