From Yahoo Finance: 2025-06-03 08:23:00

Diplomats and executives from India, Japan, and Europe are urgently seeking meetings with Beijing officials to expedite approval of rare earth magnet exports as shortages threaten global supply chains.

Japan plans to visit Beijing in early June, European diplomats have requested “emergency” meetings, and India is organizing a trip for auto executives in response to looming shutdowns.

China, controlling over 90% of global rare earth processing capacity, imposed export restrictions in April, causing concerns of widespread shutdowns in the auto industry due to lack of alternatives.

Despite a Geneva truce agreement, there has been a slow trickle of export approvals since Beijing agreed to suspend countermeasures on Washington, leading to accusations of “slow-rolling” by the U.S. Trade Representative.

European firms have thousands of pending export license applications awaiting approval, while China considers relaxing some restrictions for European semiconductor firms amid a halved export rate in April.



Read more at Yahoo Finance: Diplomats, automakers push Beijing to loosen rare earth magnet export restrictions