US asks China to resume rare-earth exports to Japan
The U.S. Commerce Department has formally asked China during technical talks in Geneva to lift the heavy export restrictions on rare-earth shipments to Japan. The move comes as Japan's automotive and semiconductor sectors face mounting supply bottlenecks.
According to Nikkei Asia, U.S. Commerce Secretary Howard Lutnick said in a written request to his Chinese counterparts that exports of dysprosium, terbium and neodymium should be reopened in particular for Japanese buyers. Beijing's expansion of export controls in April caused shipments to Japan to fall about 70%.
Japan's Ministry of Economy, Trade and Industry (METI) said 14 major companies, including Toyota and Sony, have already revised their summer production schedules. A Chinese Foreign Ministry spokesperson said the requests would be evaluated "within the overall U.S.-China negotiation framework" but stressed that export controls remain "a right tied to national security."
The U.S. proposal landed shortly before this week's trilateral U.S.-Japan-South Korea economic security summit in Tokyo. This article is not investment advice.
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