According to the Chinese Ministry of Commerce, the country has attempted to fast-track the approvals for rare earth export licenses for EU companies. A final decision regarding EU brandy imports would be delivered on July 5th. China-EU talks on minimum prices for EVs have reached the last phase. On Saturday, the Ministry of Commerce of China revealed that it would create a green channel to speed up the approvals of rare export licenses for qualified EU firms. The ministry added that it will also reveal its final decision regarding its investigations into EU brandy imports on July 5th. The Chinese ministry also revealed that minimum price talks with the EU on EVs manufactured in China have reached the final stage, saying efforts from both parties were still necessary. China says it would speed up approval for export licenses Q: French President Macron stated that during his recent call with Chinese President Xi Jinping, both sides agreed to expedite efforts to resolve the issue of Cognac brandy. Could you provide an update on the progress made by both teams on this matter? Is there a possibility of… — 中华人民共和国商务部MOFCOM (@MOFCOM_China) June 3, 2025 Following U.S. President Trump’s tariffs, China restricted exporting a wide range of rare earths to certain countries. The country also suspended the export of rare magnets to EU firms, affecting the supply chains central to semiconductor firms, automakers, military contractors, and manufacturers worldwide. The Chinese Ministry of Commerce revealed that China was concerned about the issues raised by the EU regarding the export of rare earths. The ministry added that it was working on streamlining the approvals. Commerce Minister Wang said he hoped the EU would meet China halfway and implement effective measures to enable, safeguard, and enhance compliant trade in high-tech goods to China. The European Chamber, a Beijing lobby group, said that despite the fast approvals for needed shipments, there had not been sufficient progress that would protect many firms from supply chain disruptions. Jens Eskelund, the president of the European Chamber, said member firms were still struggling with a lack of transparency in the matter. Eskelund added that some member companies were still experiencing delays. China promises to issue a final decision on brandy exports China recently imposed anti-dumping guidelines that applied import duties of up to 39 percent on European brandy, further straining relations between China and the EU. The Chinese government enforced the duties days after the EU raised concerns about Chinese-made EV and tire imports. The EU said it took action against EV imports from China to shield its local EV industry. Emmanuel Macron , the President of France, accused China of pure retaliation after introducing import duties on European brandy. According to the EU, the brandy import duties have dented sales of European brands, including Pernod Ricard, Remy Cointreau, Hennessy, and Martell. The commerce ministry had previously said it would issue its final decision regarding the brandy duties by January. However, the ministry extended the deadline to April but later pushed it to July 5. The commerce ministry said on Saturday that French firms and organizations had delivered applications on price commitments for brandy exports to China. The ministry added that Chinese investigators had already agreed with the French firms and relevant organizations on the core terms. The Ministry of Commerce revealed that relevant authorities reviewed the full text of those price commitments. The ministry ensured the final decision would be ready before the predetermined date. The European Commission said in April that the EU and China had struck a deal to consider setting minimum prices for EVs made in China instead of tariffs imposed by the Union last year. The commerce ministry said the EU had also suggested exploring new technical routes relating to EVs, adding that the ministry was still evaluating them. China has shown increasing concern that Europe has taken a Trump-like path by imposing restrictions on the sales of chipmaking equipment and semiconductors to China. Trump said the US would hold talks with China in London on Monday, paving the way for more de-escalation in the tariff war between the two nations. KEY Difference Wire helps crypto brands break through and dominate headlines fast
