China Approves Some Exports of Rare Earths Ahead of US Talks

• Has not specified countries or the industries covered

- BLOOMBERG

BEIJING ON SATURDAY said it has granted approval to some applications for the export of rare earths, a move that could ease tensions before trade negotiations between the US and China next week.

The Chinese commerce ministry confirmed the approval of the applications without specifying which countries or industries were covered, even as it noted growing demand for the minerals in robotics and electric vehicles. The ministry will continue to review and approve compliant export applications.

Delegations from Beijing and Washington are scheduled to meet in the UK to conduct trade negotiations on Monday.

China also said it is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5.