China says it will ‘optimize’ rare earth export controls

• Chinese Commerce Minister Wang Wentao meets with Apple CEO Tim Cook in Beijing

ISTANBUL

China said Thursday that it will “optimize” its latest rare earth export controls, arguing that the measures are not targeted against any third party, the state-run Xinhua news agency reported.

Chinese Commerce Ministry spokeswoman He Yongqian made the remarks during a news conference in Beijing, in the face of a 100% tariff threat by US President Donald Trump for its rare earth export restrictions.

China’s rare earth export controls explicitly apply to foreign entities that produce goods outside of China using Chinese rare earth materials, technology or expertise.

The rules mandate that companies obtain an export license from China's Ministry of Commerce (MOFCOM) to sell related products to third parties.

“China will continuously optimize licensing procedures and decrease review time in the implementation of its latest rare earth export controls, and will actively consider facilitation measures to promote legitimate trade effectively,” He said.

She pointed out that the measures are a “normal effort” to improve China’s export control system “in accordance with laws and regulations” and are not targeted at any specific country or region.

She said Beijing “expresses its strong dissatisfaction with and firm opposition to a series of restrictive measures that the United States has taken,” urging Washington to “correct its wrong practices.”

Last week, China expanded its restrictions on rare earth exports, and Trump, in response, threatened to impose 100% tariffs on China.

Separately, Chinese Commerce Minister Wang Wentao met Thursday with Apple CEO Tim Cook in Beijing, where they discussed China-US economic and trade relations and Apple's business development in China.

Wang said the US trade measures against China “severely harmed” its interests, expressing hope for the US to look for ways to address issues through “equal dialogue and consultation.”