China said Thursday it had issued a "certain number" of licences to export rare earths following its talks with the U.S. in London and a deal that U.S. President Donald Trump said would see the country provide the vital elements "up front."
The economic superpowers said after talks in London that they had achieved progress in dialling down a brutal trade war that has roiled markets and threatened global supply chain chaos.
A top priority for Washington has been ensuring the supply of the rare earths essential for products including electric vehicles, hard drives and national defense equipment.
China – which dominates global production of the elements – began requiring export licences in early April, a move widely viewed as a response to blistering tariffs imposed by Trump.
The U.S. president said Wednesday on social media that "full magnets, and any necessary rare earths, will be supplied, up front, by China" as part of the deal, which was now "done" – pending final approval by him and Chinese counterpart Xi Jinping.
The Commerce Ministry in Beijing said Thursday that "China, as a responsible major country, fully takes into account the legitimate needs and concerns of all countries in the civilian sector" related to rare earths.
"It reviews export licence applications for rare earth-related items in accordance with laws and regulations," spokesperson He Yadong told a news conference, adding that a "certain number of compliant applications have already been approved."
However, he declined to provide a specific number when asked how many licences had been approved by Beijing since talks between the two sides in Switzerland last month.
"We will continue to strengthen the approval process for compliant applications," he added.
