China expedites rare earth export licenses for European companies

China is set to expedite the approval of rare earths exports to EU firms and will decide on its trade investigation into EU brandy imports by July 5, according to its Commerce Ministry. This comes after discussions between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic.

China’s recent suspension of rare earths exports has disrupted global supply chains for various industries. The Commerce Ministry emphasized the importance of addressing the EU’s concerns and expressed a willingness to establish a faster approval process for qualified applications.