China says rare earth exports to Europe will continue past U.S. trade deadline– www.cnbc.com
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European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, on Feb. 1, 2023
Yves Herman | Reuters
BEIJING — China intends to keep exporting rare earths to Europe regardless of whether a U.S. trade deal with Beijing gets extended past January.
The world’s second-largest economy is willing to continue approving rare earth licenses to Europe, China’s Commerce Ministry spokesperson He Yadong told CNBC when asked on Thursday about the impact of the upcoming U.S. deadline.
Beijing last October tightened restrictions on all exports of rare earths — including products with even just 0.1% of China-sourced rare earths. The move followed a new U.S. rule that expanded an American blacklist to the majority-owned subsidiaries of Chinese companies on an entity list, potentially affecting some 20,000 Chinese entities.