US reaches deal with China to speed up rare earth shipments, White House says, amid efforts to end trade war | International trade
The United States has reached an agreement with China on how to accelerate rare land expeditions to the United States, said a White House official, in the midst of efforts to end a trade war between the biggest economies in the world.
President Donald Trump said earlier on Thursday that the United States had signed an agreement with China the day before, without providing additional details, and that there could be a separate agreement that “would open” India.
During American-Chinese trade negotiations in May in Geneva, Beijing has committed to suppressing non-tariff countermeasures imposed in the United States since April 2, although it is not clear how some of these measures would be recovered.
As part of its reprisals against the new American prices, China has suspended exports of a wide range of minerals and criticism magnets, upsetting central supply chains to car manufacturers, aerospace manufacturers, semiconductor companies and military entrepreneurs around the world.
“Administration and China have agreed with an additional understanding of a framework to implement the Geneva Agreement,” said a White House official on Thursday.
Understanding concerns “how we can implement rare land expeditions to the United States,” said the official.
A separate administration official said that the US chinese agreement had taken place earlier this week.
The American trade secretary, Howard Lungick, was quoted by Bloomberg: “They will deliver us rare earths” and once they will “we will remove our countermeasures.”
The China Embassy in Washington did not immediately respond to a request for comments.
Although the agreement has shown potential progress after months of commercial uncertainty and disruption since Trump took up his duties in January, he also underlines the long road before a final and final agreement between the two economic competitors.
China has taken its double -use restrictions on rare “very serious” land and has checked buyers to ensure that materials are not diverted to American military uses, according to a source from industry. This has slowed down the license process.
The Geneva Agreement had failed on the borders of China on the exports of critical minerals, which prompted the Trump administration to respond with export controls of its own semiconductor design, planes and other goods to China design.
In early June, Reuters announced that China had granted temporary export licenses to rare land suppliers of the three main American car manufacturers, according to two familiar sources with the issue, while the disturbances of the supply chain began to surface on the export borders on these materials.
Later in the month, Trump said that there was an agreement with China in which Beijing would provide magnets and minerals of rare earths while the United States would allow Chinese students of its colleges and universities.
