The tit-for-tat trade war between the US and China earlier this year cooled by late October after President Trump and President Xi agreed to a trade truce that, so far, appears to be holding. There are early signs that the truce is beginning to restore rare earth trade between China and the West, as Beijing has started approving some rare earth export license applications this week. EU trade chief Maros Sefcovic told Bloomberg TV earlier this week that industry chatter suggests China is granting so-called general licenses, a shift from a highly…