MOSCOW (Sputnik) – China has been loosening controls on its rare earths exports over the past week, Michael Hart, chair of the US Chamber of Commerce in China, said on Monday.
In early April, China placed 16 US companies on an export control list for dual-use goods. Beijing has suspended exports of a wide range of critical minerals and magnets that are needed to assemble cars, drones, robots and missiles, among other things, media have reported.
«We are seeing some approvals come through – certainly slower than industry would like. Some of the delay is related to China working through their new system to approve exports, not that they are not allowing exports,» Hart was quoted by Bloomberg as saying.
China Daily reported on Wednesday that China may ease rare earth export restrictions on European semiconductor manufacturers to stabilize global industrial chains. The US auto industry is worried about a looming shortage of rare earth magnets from China, which threatens to paralyze vehicle production, Automotive News reported on Saturday.
