China’s Ministry of Commerce clarified on Thursday that the new rare earth export controls announced on October 9 are not an export ban, but rather a move to “safeguard world peace and regional stability.”
“These controls do not constitute export bans. Applications that meet the requirements will be approved,” the ministry stated, emphasizing that the country had “fully assessed the potential impact on global supply chains” and expects the effect to be “very limited.”
The statement comes just a day after United States President Donald Trump announced a new 100% tariff on imports from China, set to take effect on November 1, intensifying trade tensions between the two major economies.
Beijing reiterated that “willful threats of high tariffs are not the right way to get along with China”, urging Washington to “promptly correct its wrong practices” and adhere to the consensus reached between the two heads of state.
China is the world’s largest supplier of rare earth elements, which are critical to the manufacturing of electronics, electric vehicles, and defense equipment. Analysts warn that even limited restrictions could have ripple effects across global supply chains already strained by geopolitical uncertainties.
