China will approve the export of “controlled items” to the United States, the Ministry of Commerce said Friday in response to a question about the supply of rare earths, which has been a sticking point in trade talks.
In response to a question about Beijing reportedly speeding up rare earth exports to the U.S., China’s Ministry of Commerce said the country would “approve applications for export of eligible controlled items in accordance with the law,” according to the official Xinhua news agency.
The ministry said the U.S. side would accordingly lift a series of restrictive measures against China, without providing further details.
Following trade talks with Washington, Beijing had promised to cancel non-tariff countermeasures against the US. However, companies have been complaining about disruptions to rare earth shipments and major disruptions to supply chains.
China’s Ministry of Commerce did not provide further details on the resumption of rare earth exports, but said it would work with the U.S. side to implement the important consensus reached by the two leaders during a June 5 phone call.
The Commerce Ministry’s comments come amid speculation that a deal could be reached between the two superpowers.
U.S. President Donald Trump said at an event that a deal had been signed with China, while U.S. Commerce Secretary Howard Lutnick also said in an interview with Bloomberg that an agreement had been reached.
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