China Rapid Tracking the rare land export licenses for European companies

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Beijing has agreed to quick approvals for rare land export licenses for some European companies after China’s strict controls for critical metal shipments that rocked global supply chains.

European officials and industrial groups complained that a new license system for rare land and relevant magnets, which was presented in the wake of the “Liberation Day” tariff in Donald Trump in April, had risked a widespread stop in the factory.

However, according to a statement published by the Chinese Ministry of Commerce on Saturday, Beijing is now “ready to create a green channel for applications qualified to accelerate approval.”

No details were provided about the extent of the speed of the process, or that European companies will be included. One of the European CEOs in Beijing, who asked not to be named, warned that manufacturers may still face a delay in receiving their rare land and magnetic shipments in the short term to the Mediterranean given the “huge accumulation” of licensing applications.

It follows the advertisement meeting Chinese Minister of Trade Wang Windo and Maros Chevoviofi, European Union Commissioner for Trade and Economic Security, in Paris last week.

Wang urged the European Union to “take effective measures to facilitate, protect and enhance trade -compatible trading products to China.”

Beijing has become increasingly concerned that Europe has followed US leadership restrictions on semiconductor sales and design equipment to China.

On Friday, Trump said a new high -level tour Commercial conversations Between the United States and China, it will be held on Monday in London, which paves the way for further escalation in the trade war between the largest economists in the world.

Rare land is just one of the many conflicts between Brussels in Beijing. The aspects were also talking about China’s opposition to the definitions of the bloc on Chinese electric cars, as well as Beijing’s tariff on French Cognac.

According to the Ministry of Commerce, discussions on the prices of Chinese electric cars that were sold in the “final stage” bloc entered, but other efforts are needed “on both sides.” China plans to announce the result of its achievement in European Brande imports on July 5.

Beijing has sought to improve relations with Brussels since Trump returned to office, but European Union officials said, despite warm words, there has been no compromise on worrying issues yet.

On Wednesday, he pressed his Chinese counterpart on rare Earth’s delays, which were slowing the delivery of manufacturers from a wide range of elements from cars to washing machines.

The Financial Times reported on Thursday that European companies have pressed Beijing officials to create a special channel for rapid export licenses for “reliable” companies.

On Friday, the European Chamber, a group of lobby in Beijing, warned that although Beijing agreed to the necessary shipments, the progress was not “sufficient” to prevent severe supply chain disorders for many companies.

Jeans Esclett, President of the Chamber, said that member companies “are still struggling” to do with both delays and lack of transparency.

Additional reports from Cheng Ling in Hong Kong