Diplomats, automakers push Beijing to loosen rare earth magnet export restrictions

Diplomats, automakers and other executives from India, Japan and Europe were urgently seeking meetings with Beijing officials to push for faster approval of rare earth magnet exports, sources said, as shortages threatened to halt global supply chains. A business delegation from Japan will visit Beijing in early June to meet the Ministry of Commerce over the curbs, according to a source familiar with the visit. European diplomats from countries with big auto industries have also sought "emergency" meetings with MOFCOM in recent weeks, a European official said.