China gives Ford suppliers a green light on rare-earth exports
China just approved year-long export licenses for rare-earth magnets to Ford's suppliers, making it easier to ship these crucial parts.
This move follows a meeting between President Xi Jinping and Donald Trump and helps fix delays caused by strict export rules earlier this year.
What does this mean for carmakers?
Ford says the new licenses will get magnet shipments back on track and help avoid more production slowdowns.
But German automakers like Volkswagen and BMW didn't make the first cut, so Germany is still negotiating with China for access.
Volkswagen reports its supplies are steady for now, while Germany's foreign minister says talks are ongoing.
Why should you care?
Rare-earth magnets, widely used in products from EVs to smartphones, saw a surge in China's exports in November after these new licenses kicked in—good news if you're into tech or cars.
Ford is calling for more US-China cooperation to keep supply chains stable going forward.