China's exports of rare earth magnets jump ahead of Trump-Xi meeting

Chinese exports of rare earth magnets ​in the first ​two months of 2026 rose 8.2% ​from the same period the year before, customs data showed on Friday, ahead of a highly anticipated meeting between the ‌leaders of ⁠the world's ⁠two largest economies.

Outbound shipments from the world's largest ​producer of rare earth magnets used in everything from cellphones ​to automotives to defence sectors stood at 10,763 metric tons between January and February, data from the ​General Administration of Customs showed.

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Exports ⁠in January ‌and February stood at 6,024 ​tons ​and 4,739 tons, respectively, versus 6,357 tons ⁠and 3,585 tons in the prior year before ​Beijing placed several medium to heavy elements ​and magnets under export restrictions last April.

U.S. President Donald Trump said on Monday he is seeking to delay his scheduled March 31-April 2 trip to meet Chinese President Xi Jinping ‌for a month due to the Iran war.

Germany, South Korea, the ​United States, ​Vietnam and France ⁠are China's top five rare earth magnets export destinations between January and February.

Exports to the U.S. slid ​22.5% on the year to 994 tons during the January and February period.

Exports to Japan rose by 9.5% to 444 tons during the same period.