Beijing agreed this week to suspend its latest round of rare earth export restrictions for one year, a delay that applies to the EU as well as the U.S.

China confirmed that its suspension of export controls on rare earths will extend to the EU, the bloc's trade chief Maroš Šefčovič said early Saturday.

Beijing agreed this week to delay its latest round of rare earth export restrictions for one year, following a meeting between Chinese President Xi Jinping and U.S. President Donald Trump on Thursday. This prompted the EU to swiftly seek assurances that the suspension would also cover the bloc.

"China confirmed that the suspension of the October export controls applies to the EU," Šefčovič wrote on X Saturday morning. "Both sides reaffirmed commitment to continue engagement on improving the implementation of export control policies," he added.

China has tightened its grip on critical minerals, expanding export controls on rare earths and other materials vital to the clean-tech and defense industries. The EU, which relies on China for almost 99 percent of its rare earth supply, has been scrambling to reduce its dependency.

Speaking to reporters in Rome on Friday, Šefčovič said the EU is now having "high-level official talks on export controls" with China. "I will speak again with my Chinese counterpart very, very soon," he added.

Šefčovič also said that he envisioned a "common purchase of critical raw materials" by the EU. "We can do the bidding on behalf of the biggest trading bloc in the world, which is the European Union, and to get the critical raw materials for a better price," the EU trade chief said.

Beijing’s export controls have rattled markets and snarled supply chains, with European companies facing long delays and sharp price increases due to shortages of raw materials. The European Commission hustled to secure its own supplies of rare earth magnets and to launch a plan to diversify Europe’s supply chain by the end of the year.

"The EU welcomed China’s 12-month suspension of the relevant export controls published on 9 October 2025," European Commission spokesperson Olof Gill said in a statement. "This is an appropriate and responsible step in the context of ensuring stable global trade flows in a critically important area."

The White House on Saturday issued a fact sheet on the U.S.-China trade deal, giving the most detailed summary yet of the accord reached between American and Chinese negotiators. U.S. Treasury Secretary Scott Bessent has said the two countries could sign the agreement as soon as this coming week.

According to the fact sheet, the Chinese government will lift export restrictions on critical minerals, cease exports of chemicals to North America required to produce fentanyl and resume the flow of key auto semiconductors. “China will issue general licenses valid for exports of rare earths, gallium, germanium, antimony, and graphite for the benefit of U.S. end users and their suppliers around the world,” according to the document.

G7 allies, meanwhile, are seeking to coordinate their responses to China’s grip on the supply of crucial minerals. G7 ministers on Friday signed dozens of deals for critical minerals under the group's new supply-chain pact aimed at countering China’s dominance in rare earths.

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