China’s rare earth magnet exports to the United States (US) jumped more than sevenfold in June compared to May, marking a significant recovery after the China-US trade deal.
According to data from the General Administration of Customs, shipments of rare earth magnets to the US rose to 353 metric tons in June, up 660% from May.
The surge follows an agreement in June to resolve issues with rare earth minerals and magnets being shipped to the US.
As part of the agreement, chipmaker Nvidia also plans to resume sales of H20 chips to China.
China, which accounts for more than 90% of the global supply of rare earth magnets, announced in early April that it would add some rare earth items to its export restrictions list in response to US tariffs.
China exported 3,188 tonnes of rare earth magnets worldwide in June, up 157.5% from 1,238 tonnes in May, but still 38.1% lower than June 2024.
