China-U.S. Economic and Trade Consultation Mechanism Meeting: U.S. Secretary of Commerce says export controls may be "eased" if a solution is reached with China on rare earth and magnet licensing issues

ChainCatcher News, U.S. Secretary of Commerce Gina Raimondo stated during the first meeting of the China-U.S. Economic and Trade Consultation Mechanism that export controls may be "relaxed" if a solution is reached with China on rare earth and magnet licensing issues. He mentioned that if the two presidents agree, then the U.S. and China will implement the plan. Chinese trade representative Li Chenggang told reporters after talks in London that both sides have agreed in principle to the framework for implementing the consensus reached last month in Geneva.