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>>China’s Commerce Ministry states that restrictions on rare-earth exports are not outright bans.

China’s Commerce Ministry states that restrictions on rare-earth exports are not outright bans.

crypthub

about 12 hours ago

Rare Earth Export Controls Explained

China’s Ministry of Commerce (MOFCOM) asserts its new export controls on rare earths are lawful national security measures, not outright bans. Licenses will be issued for eligible civilian trade, aiming to refine China’s export control system. The move is aligned with domestic law and non-proliferation obligations, with partners notified in advance. Beijing maintains a dominant role in rare earth production and processing.

Licensing and Facilitation Measures

Implementation will rely on a licensing process rather than prohibition, ensuring reviews are conducted under law. Beijing is actively considering measures like general licenses and exemptions to promote legitimate trade. The ministry anticipates a limited impact on broader supply chains from the export controls. Compliant civilian exports are expected to receive approval.

Response to U.S. Actions

MOFCOM criticized the U.S. position as a “double standard,” referencing American control lists and export rules. China stated it doesn's want a trade war but isn't afraid of one, urging return to consultation. China will take resolute measures to protect its interests if the U.S. proceeds.

Shipping Fees and Market Sentiment

China condemned U.S. port fees on Chinese-linked vessels as inconsistent with WTO rules, announcing reciprocal port fees on U.S.-linked vessels. Market sentiment reflects fragile conditions, with Bitcoin experiencing a decline and the Crypto Fear & Greed Index indicating "Extreme Fear."