China fast tracks rare earth export licences for European companies

Beijing has agreed to expedite rare earth export license approvals for certain European companies following complaints about a new licensing system that threatened factory operations. This decision came after a meeting between Chinese commerce minister Wang Wentao and EU trade commissioner Maroš Šefčovič, although concerns remain about potential delays due to a significant backlog of applications. The discussions reflect broader trade tensions between the EU and China, including issues related to tariffs on electric vehicles and European brandy imports.