A Thaw in the Trade War: China Grants Strategic "General Licenses" for Rare Earths

Following the high-stakes summit between Presidents Donald Trump and Xi Jinping on October 30, 2025, in South Korea, Beijing has begun fulfilling its promise to ease trade bottlenecks. The Chinese government has issued its first batch of "general licenses" to major magnet manufacturers, including JL Mag Rare Earth, Ningbo Yunsheng, and Zhong Ke San Huan.

Unlike the restrictive shipment-by-shipment permits introduced earlier in 2025, these new streamlined licenses allow for year-long, high-volume exports to approved global customers. While the White House has hailed the move as the "de facto removal" of Chinese export controls, market analysts note that Beijing still retains strategic leverage, as the licenses currently prioritize civilian-use customers and large-scale industrial partners over sensitive military-linked contractors.