Top U.S. officials on Wednesday criticised China’s expansion of rare earth export controls, warning it threatens global supply chains, though they said Beijing could still reverse course to avoid U.S. retaliation.
China has accused foreign intelligence agencies of smuggling rare earth metals out of the country by manipulating shipping logistics and recruiting insiders, according to a statement from the Ministry of State Security.
China has started granting export licences for rare earth elements and magnets to companies in the European Union, according to a report by the South China Morning Post, citing EU officials.
JL MAG Rare-Earth, a Chinese rare earth permanent magnet producer, has secured export licenses from Chinese authorities for shipments to the U.S., Europe, and Southeast Asia, following China's decision to curb rare earth exports in April.
Japan is preparing a strategic offer to the United States centered on rare earth elements and liquefied natural gas, aiming to secure relief from steep U.S. tariffs amid growing trade frictions with China.
A Vietnamese court has sentenced 23 officials and businesspeople for illegally exploiting and exporting rare earths from a northern mine, in a case the court called "especially serious."
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